Canada Pension Plan Investment Board Sells 208,000 Shares of Fox Co. (NASDAQ:FOX)

Canada Pension Plan Investment Board reduced its position in Fox Co. (NASDAQ:FOX) by 69.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,000 shares of the company’s stock after selling 208,000 shares during the quarter. Canada Pension Plan Investment Board’s holdings in FOX were worth $4,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its position in shares of FOX by 3.6% during the 3rd quarter. Barclays PLC now owns 540,789 shares of the company’s stock worth $20,982,000 after buying an additional 18,802 shares during the last quarter. Virtu Financial LLC raised its stake in FOX by 971.8% during the third quarter. Virtu Financial LLC now owns 215,425 shares of the company’s stock worth $8,358,000 after acquiring an additional 195,326 shares in the last quarter. Tidal Investments LLC bought a new position in shares of FOX in the third quarter worth about $384,000. Franklin Resources Inc. boosted its stake in shares of FOX by 457.5% in the 3rd quarter. Franklin Resources Inc. now owns 44,332 shares of the company’s stock valued at $1,694,000 after purchasing an additional 36,380 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of FOX by 41.7% during the 4th quarter. GAMMA Investing LLC now owns 6,584 shares of the company’s stock valued at $301,000 after purchasing an additional 1,939 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

FOX Trading Up 1.9 %

Shares of FOX stock opened at $44.78 on Wednesday. Fox Co. has a twelve month low of $28.51 and a twelve month high of $55.00. The stock’s fifty day simple moving average is $49.47 and its 200 day simple moving average is $46.07. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $20.30 billion, a P/E ratio of 9.59, a P/E/G ratio of 1.55 and a beta of 0.58.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.35. FOX had a return on equity of 18.50% and a net margin of 14.39%. During the same quarter in the previous year, the company earned $0.34 EPS. As a group, sell-side analysts predict that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Wednesday, March 5th. FOX’s payout ratio is currently 11.56%.

Wall Street Analyst Weigh In

Separately, Moffett Nathanson downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st.

Insider Transactions at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 23.06% of the stock is owned by company insiders.

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.