Fox Corporation (FOX) To Go Ex-Dividend on March 4th

Fox Corporation (NASDAQ:FOX) declared a dividend on Tuesday, February 3rd, NASDAQ Dividends reports. Shareholders of record on Wednesday, March 4th will be paid a dividend of 0.28 per share on Wednesday, March 25th. The ex-dividend date of this dividend is Wednesday, March 4th.

FOX has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. FOX has a dividend payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect FOX to earn $4.38 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 12.8%.

FOX Trading Down 0.6%

Shares of FOX stock opened at $51.73 on Monday. FOX has a 1-year low of $43.18 and a 1-year high of $68.18. The company has a market cap of $22.01 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 7.15 and a beta of 0.56. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44. The stock has a 50 day simple moving average of $61.27 and a 200-day simple moving average of $58.11.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.51 by $0.31. The company had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.06 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. On average, equities research analysts expect that FOX will post 4.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other FOX news, insider Adam G. Ciongoli sold 29,897 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the transaction, the insider owned 35,978 shares of the company’s stock, valued at approximately $2,502,269.90. The trade was a 45.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of FOX by 4.2% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 246,011 shares of the company’s stock valued at $12,702,000 after acquiring an additional 10,000 shares during the last quarter. Marshall Wace LLP boosted its position in shares of FOX by 140.6% during the 2nd quarter. Marshall Wace LLP now owns 356,874 shares of the company’s stock worth $18,425,000 after purchasing an additional 208,547 shares during the period. Canada Post Corp Registered Pension Plan increased its holdings in FOX by 786.4% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 23,720 shares of the company’s stock valued at $1,352,000 after purchasing an additional 21,044 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in FOX by 59.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 172,893 shares of the company’s stock valued at $8,926,000 after purchasing an additional 64,743 shares during the period. Finally, Arkadios Wealth Advisors purchased a new stake in FOX in the second quarter valued at approximately $341,000. 26.41% of the stock is currently owned by institutional investors and hedge funds.

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.