Fox Co. (NASDAQ:FOX) Stake Lessened by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its stake in Fox Co. (NASDAQ:FOX) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,695 shares of the company’s stock after selling 461 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in FOX were worth $2,038,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nomura Holdings Inc. lifted its stake in FOX by 258.0% during the first quarter. Nomura Holdings Inc. now owns 5,403,041 shares of the company’s stock valued at $169,169,000 after purchasing an additional 3,893,625 shares during the last quarter. Norges Bank acquired a new stake in FOX during the fourth quarter valued at approximately $78,611,000. BlackRock Inc. lifted its stake in FOX by 16.3% during the second quarter. BlackRock Inc. now owns 12,568,712 shares of the company’s stock valued at $400,816,000 after purchasing an additional 1,758,998 shares during the last quarter. Bank of America Corp DE lifted its stake in FOX by 200.4% during the first quarter. Bank of America Corp DE now owns 1,976,434 shares of the company’s stock valued at $61,882,000 after purchasing an additional 1,318,584 shares during the last quarter. Finally, Amundi lifted its stake in FOX by 88.4% during the fourth quarter. Amundi now owns 1,272,976 shares of the company’s stock valued at $38,304,000 after purchasing an additional 597,323 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors.

FOX Stock Down 1.5 %

Shares of NASDAQ:FOX opened at $28.37 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29. The company has a market cap of $13.47 billion, a PE ratio of 16.79 and a beta of 0.85. Fox Co. has a 52 week low of $25.82 and a 52 week high of $33.24. The firm has a 50 day simple moving average of $27.70 and a 200 day simple moving average of $28.08.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.11 by $0.23. The business had revenue of $4.23 billion during the quarter. FOX had a net margin of 5.75% and a return on equity of 15.81%. During the same quarter last year, the company posted $0.48 EPS.

FOX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Tuesday, March 5th. This is an increase from FOX’s previous quarterly dividend of $0.24. FOX’s dividend payout ratio is 30.77%.

Analyst Upgrades and Downgrades

Separately, TheStreet downgraded shares of FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.