State of New Jersey Common Pension Fund D Has $4.07 Million Stake in Fox Corporation $FOX

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Fox Corporation by 21.2% in Q1, leaving it with a value of $4.07 million in shares after selling 20,783 shares.
• Fox Corporation recently reported an earnings per share (EPS) of $1.27, exceeding estimates and achieving revenue of $3.29 billion for the quarter.
• The company announced a $0.28 per share dividend set to be paid on September 24th, with a current payout ratio of 11.00%.

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 21.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,271 shares of the company's stock after selling 20,783 shares during the period. State of New Jersey Common Pension Fund D's holdings in FOX were worth $4,073,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FOX. Nuveen LLC acquired a new stake in FOX during the 1st quarter valued at $54,630,000. National Bank of Canada FI increased its holdings in FOX by 37.7% during the 1st quarter. National Bank of Canada FI now owns 1,817,328 shares of the company's stock valued at $95,791,000 after purchasing an additional 497,544 shares in the last quarter. GAMMA Investing LLC increased its holdings in FOX by 7,082.8% during the 1st quarter. GAMMA Investing LLC now owns 472,914 shares of the company's stock valued at $24,927,000 after purchasing an additional 466,330 shares in the last quarter. Vanguard Group Inc. increased its holdings in FOX by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 14,585,444 shares of the company's stock valued at $768,799,000 after purchasing an additional 249,246 shares in the last quarter. Finally, Virtu Financial LLC increased its holdings in FOX by 364.4% during the 1st quarter. Virtu Financial LLC now owns 296,316 shares of the company's stock valued at $15,619,000 after purchasing an additional 232,508 shares in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

FOX Trading Up 0.9%

FOX stock opened at $53.22 on Wednesday. The business has a fifty day moving average price of $51.20 and a 200 day moving average price of $50.02. Fox Corporation has a fifty-two week low of $35.89 and a fifty-two week high of $55.00. The stock has a market capitalization of $23.71 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 1.30 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76.

FOX (NASDAQ:FOX - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.03 by $0.24. The company had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%. Analysts expect that Fox Corporation will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

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

Insider Buying and Selling at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction of $310,459.59. Following the completion of the sale, the chief financial officer owned 133,923 shares in the company, valued at $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 23.06% of the stock is currently owned by insiders.

FOX Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.