Stevens Capital Management LP Purchases 8,709 Shares of Fox Co. (NASDAQ:FOX)

Stevens Capital Management LP lifted its stake in shares of Fox Co. (NASDAQ:FOX) by 40.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,111 shares of the company’s stock after acquiring an additional 8,709 shares during the period. Stevens Capital Management LP’s holdings in FOX were worth $833,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in FOX. New Mexico Educational Retirement Board increased its position in shares of FOX by 6.0% in the third quarter. New Mexico Educational Retirement Board now owns 7,083 shares of the company’s stock valued at $205,000 after acquiring an additional 400 shares during the period. Treasurer of the State of North Carolina boosted its stake in FOX by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 88,783 shares of the company’s stock worth $2,564,000 after acquiring an additional 401 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in FOX by 1.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,908 shares of the company’s stock worth $777,000 after acquiring an additional 426 shares in the last quarter. CWM LLC boosted its stake in FOX by 27.9% during the fourth quarter. CWM LLC now owns 2,486 shares of the company’s stock worth $69,000 after acquiring an additional 543 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in FOX by 1.8% during the third quarter. PNC Financial Services Group Inc. now owns 30,570 shares of the company’s stock worth $883,000 after acquiring an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Stock Performance

FOX stock traded down $0.06 during midday trading on Thursday, reaching $29.25. 885,484 shares of the company traded hands, compared to its average volume of 1,297,639. Fox Co. has a 12 month low of $25.82 and a 12 month high of $33.24. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 17.34 and a beta of 0.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.01. The business has a 50 day moving average of $27.74 and a two-hundred day moving average of $28.08.

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 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 3.56%. FOX’s dividend payout ratio (DPR) is presently 30.77%.

Analysts Set New Price Targets

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

About FOX

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.