Fox Co. (NASDAQ:FOXA) Chairman Sells $3,083,860.00 in Stock

Fox Co. (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

FOX Trading Down 1.9 %

Shares of FOXA stock traded down $1.09 during trading hours on Tuesday, hitting $56.91. 5,553,057 shares of the company were exchanged, compared to its average volume of 3,825,629. The firm has a market cap of $25.80 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.27 and a beta of 0.76. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $58.38. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The company has a 50 day simple moving average of $51.05 and a two-hundred day simple moving average of $45.68.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business earned $0.34 EPS. FOX’s quarterly revenue was up 19.9% compared to the same quarter last year. Equities analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. This represents a yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is presently 11.56%.

Hedge Funds Weigh In On FOX

Several large investors have recently bought and sold shares of the stock. WealthTrak Capital Management LLC purchased a new stake in shares of FOX during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. increased its position in shares of FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after purchasing an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of FOX during the 4th quarter valued at $28,000. Jones Financial Companies Lllp increased its position in shares of FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after purchasing an additional 368 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on FOXA. Deutsche Bank Aktiengesellschaft increased their target price on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley upped their price objective on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and upped their price objective for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Evercore ISI raised FOX to a “hold” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their price objective on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.19.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.