Short Interest in Fox Co. (NASDAQ:FOX) Declines By 6.0%

Fox Co. (NASDAQ:FOX) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 4,080,000 shares, a drop of 6.0% from the March 15th total of 4,340,000 shares. Based on an average daily volume of 1,360,000 shares, the days-to-cover ratio is currently 3.0 days. Currently, 3.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in FOX by 51.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 481,198 shares of the company’s stock worth $13,305,000 after acquiring an additional 163,458 shares during the period. UBS Group AG raised its position in shares of FOX by 87.1% during the 3rd quarter. UBS Group AG now owns 471,179 shares of the company’s stock valued at $13,608,000 after purchasing an additional 219,315 shares during the period. Invesco Ltd. raised its position in shares of FOX by 10.1% during the 3rd quarter. Invesco Ltd. now owns 1,624,843 shares of the company’s stock valued at $46,925,000 after purchasing an additional 148,588 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of FOX by 98.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 300,383 shares of the company’s stock valued at $8,675,000 after purchasing an additional 149,306 shares during the period. Finally, TD Asset Management Inc raised its position in shares of FOX by 8.7% during the 3rd quarter. TD Asset Management Inc now owns 209,687 shares of the company’s stock valued at $6,056,000 after purchasing an additional 16,700 shares during the period. 26.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

FOX Trading Up 0.1 %

Shares of FOX stock opened at $27.99 on Thursday. FOX has a 12-month low of $25.82 and a 12-month high of $33.24. 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 firm’s 50 day moving average is $27.59 and its 200 day moving average is $28.05. The stock has a market capitalization of $13.29 billion, a P/E ratio of 16.56 and a beta of 0.85.

FOX (NASDAQ:FOX) last released 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 net margin of 5.75% and a return on equity of 15.81%. The business had revenue of $4.23 billion for the quarter. During the same quarter in the previous year, the business posted $0.48 earnings per share.

FOX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were given a $0.26 dividend. 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 yield of 3.72%. FOX’s dividend payout ratio (DPR) is presently 30.77%.

FOX Company 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.