Fox Co. (NASDAQ:FOXA) Announces Semi-Annual Dividend of $0.27

Fox Co. (NASDAQ:FOXA) declared a Semi-Annual dividend on Thursday, August 1st, Zacks reports. Investors of record on Wednesday, September 4th will be given a dividend of 0.27 per share on Wednesday, September 25th. This represents a yield of 1.4%. The ex-dividend date is Wednesday, September 4th. This is a boost from FOX’s previous Semi-Annual dividend of $0.26.

FOX has increased its dividend by an average of 3.5% annually over the last three years. FOX has a dividend payout ratio of 14.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect FOX to earn $3.73 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 14.5%.

FOX Stock Performance

Shares of FOXA stock opened at $41.37 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. FOX has a 12-month low of $28.28 and a 12-month high of $41.42. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 1.86 and a beta of 0.77. The stock has a 50 day simple moving average of $37.67 and a 200-day simple moving average of $33.77.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.07. The firm 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%. FOX’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. On average, equities analysts forecast that FOX will post 3.72 EPS for the current year.

Insider Activity at FOX

In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired 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 directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the sale, the chief financial officer now owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Analysts Set New Price Targets

FOXA has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on FOX from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Evercore ISI upped their target price on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. Macquarie lifted their price target on FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Barclays increased their price objective on shares of FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of FOX from $39.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.23.

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.