WESPAC Advisors LLC Takes $740,000 Position in Fox Corporation (NASDAQ:FOX)

WESPAC Advisors LLC bought a new stake in Fox Corporation (NASDAQ:FOX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,041 shares of the company's stock, valued at approximately $740,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of FOX by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,336,198 shares of the company's stock valued at $655,738,000 after buying an additional 425,868 shares in the last quarter. Independent Franchise Partners LLP grew its holdings in shares of FOX by 15.4% during the 4th quarter. Independent Franchise Partners LLP now owns 5,706,386 shares of the company's stock valued at $261,010,000 after purchasing an additional 759,874 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of FOX by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,224,397 shares of the company's stock valued at $147,122,000 after purchasing an additional 114,442 shares during the last quarter. Norges Bank bought a new stake in shares of FOX during the 4th quarter valued at approximately $138,822,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of FOX by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,468,268 shares of the company's stock valued at $112,908,000 after purchasing an additional 131,018 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Steven Tomsic sold 39,642 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the sale, the chief financial officer directly owned 133,923 shares in the company, valued at $7,405,941.90. This represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 23.06% of the company's stock.

FOX Trading Up 2.5%

Shares of FOX stock opened at $51.90 on Friday. The firm has a market capitalization of $23.34 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.14 and a beta of 0.56. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The firm's 50 day moving average is $50.23 and its 200 day moving average is $49.06. Fox Corporation has a 1 year low of $33.00 and a 1 year high of $55.00.

FOX (NASDAQ:FOX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.14. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.19 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. Equities research analysts forecast that Fox Corporation will post 4.25 earnings per share for the current fiscal year.

About FOX

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.

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