SG Americas Securities LLC Sells 10,699 Shares of Fox Co. (NASDAQ:FOX)

SG Americas Securities LLC reduced its stake in shares of Fox Co. (NASDAQ:FOX) by 56.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,263 shares of the company’s stock after selling 10,699 shares during the quarter. SG Americas Securities LLC’s holdings in FOX were worth $321,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtu Financial LLC bought a new position in shares of FOX during the first quarter valued at about $1,711,000. Swedbank AB grew its stake in shares of FOX by 117.8% in the second quarter. Swedbank AB now owns 145,711 shares of the company’s stock worth $4,666,000 after purchasing an additional 78,801 shares during the last quarter. AMF Tjanstepension AB bought a new stake in shares of FOX in the second quarter worth about $7,690,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of FOX by 47.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 362,172 shares of the company’s stock worth $10,365,000 after purchasing an additional 116,218 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of FOX by 93.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 945,930 shares of the company’s stock worth $26,155,000 after purchasing an additional 456,546 shares during the last quarter. 26.41% of the stock is owned by institutional investors.

FOX Stock Performance

Shares of FOX opened at $38.97 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. Fox Co. has a one year low of $25.82 and a one year high of $39.32. The company has a 50-day simple moving average of $37.82 and a two-hundred day simple moving average of $33.75. The firm has a market capitalization of $18.19 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81.

FOX (NASDAQ:FOX) last released its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. FOX had a net margin of 10.74% and a return on equity of 15.57%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the business earned $0.88 earnings per share. On average, analysts anticipate that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.77%. This is a positive change from FOX’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, September 4th. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Insider Activity

In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 19.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FOX shares. Barclays raised FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th.

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.