abrdn plc Acquires 22,956 Shares of Fox Co. (NASDAQ:FOX)

abrdn plc boosted its holdings in shares of Fox Co. (NASDAQ:FOX) by 69.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 56,137 shares of the company’s stock after acquiring an additional 22,956 shares during the period. abrdn plc’s holdings in FOX were worth $1,552,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. QRG Capital Management Inc. bought a new position in FOX during the 3rd quarter worth approximately $10,366,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of FOX by 377.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 359,678 shares of the company’s stock valued at $9,945,000 after buying an additional 284,353 shares during the period. Nomura Holdings Inc. increased its position in shares of FOX by 4.9% in the 3rd quarter. Nomura Holdings Inc. now owns 5,883,009 shares of the company’s stock valued at $169,901,000 after buying an additional 274,982 shares in the last quarter. UBS Group AG raised its stake in FOX by 87.1% during the 3rd quarter. UBS Group AG now owns 471,179 shares of the company’s stock worth $13,608,000 after buying an additional 219,315 shares during the period. Finally, Bank of Nova Scotia grew its stake in 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. Institutional investors own 26.41% of the company’s stock.

FOX Stock Up 1.2 %

FOX stock opened at $29.15 on Tuesday. Fox Co. has a twelve month low of $25.82 and a twelve month high of $33.24. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average of $27.80 and a 200-day moving average of $28.09. The stock has a market capitalization of $13.84 billion, a PE ratio of 17.25 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 (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.23. The firm had revenue of $4.23 billion for the quarter. FOX had a return on equity of 15.81% and a net margin of 5.75%. During the same period in the prior year, the business earned $0.48 EPS.

FOX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.26 per share. This is a boost from FOX’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Tuesday, March 5th. FOX’s dividend payout ratio (DPR) is currently 30.77%.

Analyst Ratings Changes

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