California Public Employees Retirement System Reduces Stock Holdings in Fox Co. (NASDAQ:FOX)

California Public Employees Retirement System reduced its stake in Fox Co. (NASDAQ:FOX) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 204,508 shares of the company’s stock after selling 30,951 shares during the period. California Public Employees Retirement System’s holdings in FOX were worth $5,655,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FOX. QRG Capital Management Inc. purchased a new position in FOX in the third quarter valued at approximately $10,366,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of FOX by 377.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 359,678 shares of the company’s stock valued at $9,945,000 after acquiring an additional 284,353 shares during the period. Nomura Holdings Inc. boosted its holdings in shares of FOX by 4.9% in the third quarter. Nomura Holdings Inc. now owns 5,883,009 shares of the company’s stock valued at $169,901,000 after acquiring an additional 274,982 shares during the period. UBS Group AG boosted its holdings in shares of FOX by 87.1% in the third quarter. UBS Group AG now owns 471,179 shares of the company’s stock valued at $13,608,000 after acquiring an additional 219,315 shares during the period. Finally, Bank of Nova Scotia boosted its holdings in shares of FOX by 208.7% in the third quarter. Bank of Nova Scotia now owns 253,398 shares of the company’s stock valued at $7,318,000 after acquiring an additional 171,320 shares during the period. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

FOX Price Performance

FOX stock opened at $29.58 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70. The business has a 50 day simple moving average of $27.92 and a 200-day simple moving average of $28.09. Fox Co. has a twelve month low of $25.82 and a twelve month high of $33.24. The company has a market capitalization of $14.05 billion, a P/E ratio of 17.50 and a beta of 0.82.

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

FOX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This is an increase from FOX’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 3.52%. FOX’s dividend payout ratio (DPR) is currently 30.77%.

Analysts Set New Price Targets

Separately, TheStreet downgraded FOX from a “b-” rating to a “c” rating in a 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.