Fox Co. (NASDAQ:FOXA) Given Average Rating of “Hold” by Brokerages

Shares of Fox Co. (NASDAQ:FOXA) have been given a consensus rating of “Hold” by the fourteen brokerages that are currently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $38.23.

A number of brokerages have commented on FOXA. Rosenblatt Securities lifted their target price on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their target price on FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their price target on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Macquarie boosted their price objective on shares of FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 12th.

Insider Transactions at FOX

In other news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FOX news, COO John Nallen sold 52,874 shares of FOX stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in shares of FOX during the 2nd quarter valued at approximately $962,000. Teachers Retirement System of The State of Kentucky lifted its stake in shares of FOX by 9.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 712,593 shares of the company’s stock worth $24,492,000 after purchasing an additional 62,920 shares during the period. Creative Planning boosted its stake in FOX by 119.2% in the 2nd quarter. Creative Planning now owns 29,277 shares of the company’s stock worth $1,006,000 after buying an additional 15,921 shares during the last quarter. Algert Global LLC acquired a new stake in shares of FOX in the second quarter worth approximately $362,000. Finally, Kathmere Capital Management LLC acquired a new position in shares of FOX in the 2nd quarter valued at $247,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Price Performance

FOXA stock opened at $39.66 on Monday. FOX has a 1 year low of $28.28 and a 1 year high of $41.58. The firm has a market capitalization of $18.25 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The business has a 50 day simple moving average of $38.68 and a 200-day simple moving average of $34.35.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Equities research analysts anticipate that FOX will post 3.72 earnings per share for the current fiscal year.

FOX Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.27 per share. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.4%. The ex-dividend date is Wednesday, September 4th. FOX’s dividend payout ratio is currently 16.93%.

FOX Company Profile

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.