Regal Partners Ltd Increases Stake in Fox Corporation (NASDAQ:FOX)

Key Points

• Regal Partners Ltd increased its stake in Fox Corporation by 7.4%, acquiring an additional 49,206 shares, bringing its total holdings to 715,049 shares, valued at approximately $37.7 million.
• Several large investors, including Sumitomo Mitsui DS Asset Management and Wealth Enhancement Advisory Services, have also significantly increased their holdings in FOX during the first quarter.
• Fox Corporation announced a $0.28 per share dividend, set to be paid on September 24th, reflecting a payout ratio of 11.41%.

Regal Partners Ltd increased its holdings in Fox Corporation (NASDAQ:FOX - Free Report) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 715,049 shares of the company's stock after purchasing an additional 49,206 shares during the period. FOX makes up about 3.8% of Regal Partners Ltd's investment portfolio, making the stock its 11th largest position. Regal Partners Ltd owned about 0.16% of FOX worth $37,690,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. boosted its stake in shares of FOX by 66.2% during the first quarter. Federated Hermes Inc. now owns 580 shares of the company's stock valued at $31,000 after purchasing an additional 231 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of FOX by 0.8% during the first quarter. PNC Financial Services Group Inc. now owns 34,898 shares of the company's stock valued at $1,839,000 after purchasing an additional 266 shares during the period. CWM LLC boosted its stake in shares of FOX by 16.6% during the first quarter. CWM LLC now owns 1,892 shares of the company's stock valued at $100,000 after purchasing an additional 270 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in FOX by 2.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,040 shares of the company's stock worth $529,000 after acquiring an additional 270 shares during the period. Finally, Fifth Third Bancorp lifted its stake in FOX by 7.5% in the first quarter. Fifth Third Bancorp now owns 4,398 shares of the company's stock worth $232,000 after acquiring an additional 307 shares during the period. Institutional investors own 26.41% of the company's stock.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer owned 133,923 shares of the company's stock, valued at approximately $7,415,316.51. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.06% of the stock is owned by insiders.

FOX Stock Down 2.2%

NASDAQ:FOX traded down $1.19 during mid-day trading on Friday, reaching $53.39. The company's stock had a trading volume of 923,301 shares, compared to its average volume of 1,231,463. The firm has a market capitalization of $24.01 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 1.32 and a beta of 0.58. The stock has a fifty day moving average of $51.08 and a 200-day moving average of $49.94. Fox Corporation has a 1 year low of $35.89 and a 1 year high of $55.00. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

FOX (NASDAQ:FOX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.03 by $0.24. FOX had a net margin of 13.88% and a return on equity of 18.86%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.12 billion. Equities research analysts forecast that Fox Corporation will post 4.25 earnings per share for the current year.

FOX Announces Dividend

The company also recently disclosed a half year 25 dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's dividend payout ratio (DPR) is presently 11.00%.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.