New Jersey State Common Pension Fund D Cuts Shares of Fox Co. (NASDAQ:FOX)

VaselineSeptember 18, 2024

0 4 minutes read

State of New Jersey Common Pension Fund D reduced its stake in shares of Fox Co. (NASDAQ:FOX – Free Report) by 32.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. . The firm owned 105,150 shares of the company’s stock after selling 50,341 shares during the period. State of New Jersey Common Pension Fund D’s holdings in FOX were worth $3,367,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in FOX by 692.1% during the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after buying an additional 1,232 shares during the period. Friedenthal Financial bought a new position in FOX in the second quarter valued at approximately $51,000. V Square Quantitative Management LLC lifted its position in FOX by 20.8% in the fourth quarter. V Square Quantitative Management LLC now owns 3,391 shares of the company’s stock valued at $94,000 after buying an additional 585 shares during the period. Central Pacific Bank Trust Division bought a new position in FOX in the first quarter valued at approximately $97,000. Finally, TFO Wealth Partners LLC lifted its position in FOX by 67,566.7% during the fourth quarter. TFO Wealth Partners LLC now owns 4,060 shares of the company’s stock valued at $112,000 after purchasing an additional 4,054 shares during the period. Institutional investors own 26.41% of the company’s shares.

The Wall Street analyst weighs in

Separately, Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th.

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Insiders place their bets

In other news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $42,044,457.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, COO John Nallen sold 52,874 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The disclosure for this sale can be found here. Insiders own 19.21% of the company’s shares.

FOX Stock 1.8%

FOX opened at $37.44 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 2.33, and a debt-to-equity ratio of 0.61. Fox Co. has a 1 year low of $25.82 and a 1 year high of $38.51. The company has a market cap of $17.47 billion, a PE ratio of 11.74, a PEG ratio of 1.90 and a beta of 0.81. The company’s 50-day simple moving average is $36.16, and its two-hundred-day simple moving average is $32.00.

FOX (NASDAQ:FOX – Get Free Report ) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping 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 company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. In the same period last year, the company earned $0.88 per share. As a group, equities analysts estimate that Fox Co. will post 3.59 EPS for the current year.

FOX is raising dividends

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.27 dividend. The ex-dividend date is Wednesday, September 4. This is an increase from FOX’s previous quarterly dividend of $0.26. This represents an annualized dividend of $1.08 and a yield of 2.88%. FOX’s dividend payout ratio (DPR) is currently 16.93%.

FOX profile

(Free Report)

Fox Corporation operates as a news, sports and entertainment company in the United States (US). The company operates through cable network programming; Television; and the Other, Corporate and Disposals Segments. The Cable Programming segment produces and licenses news, business news and sports content for distribution through traditional cable television systems, direct satellite operators and telecommunications companies, virtual distributors of multichannel video programming and other digital platforms, in mainly in the US.