Renaissance Technologies LLC Reduces Stock Holdings in Fox Co. (NASDAQ:FOX)

Renaissance Technologies LLC trimmed its holdings in Fox Co. (NASDAQ:FOX) by 77.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,700 shares of the company’s stock after selling 259,278 shares during the quarter. Renaissance Technologies LLC’s holdings in FOX were worth $2,456,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FOX. Dimensional Fund Advisors LP raised its position in FOX by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock valued at $74,483,000 after purchasing an additional 272,743 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in FOX by 6.9% in the second quarter. Daiwa Securities Group Inc. now owns 18,720 shares of the company’s stock valued at $599,000 after buying an additional 1,206 shares during the last quarter. Andra AP fonden increased its holdings in FOX by 61.0% in the 2nd quarter. Andra AP fonden now owns 82,100 shares of the company’s stock worth $2,629,000 after buying an additional 31,100 shares during the period. Royal London Asset Management Ltd. raised its holdings in shares of FOX by 0.7% during the second quarter. Royal London Asset Management Ltd. now owns 52,054 shares of the company’s stock worth $1,667,000 after purchasing an additional 367 shares during the last quarter. Finally, Choreo LLC purchased a new stake in FOX in the 2nd quarter worth approximately $343,000. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

Shares of FOX stock opened at $39.00 on Wednesday. The business has a 50 day simple moving average of $37.02 and a two-hundred day simple moving average of $32.82. The stock has a market capitalization of $18.20 billion, a P/E ratio of 12.23, a PEG ratio of 1.97 and a beta of 0.81. 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 12 month low of $25.82 and a 12 month high of $39.15.

FOX (NASDAQ:FOX) last issued 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. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. During the same period in the prior year, the business earned $0.88 EPS. As a group, analysts predict that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.08 dividend on an annualized basis and a yield of 2.77%. This is a boost from FOX’s previous quarterly dividend of $0.26. FOX’s dividend payout ratio is presently 16.93%.

Wall Street Analysts Forecast Growth

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

Insider Activity at FOX

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

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.