Fox Co. (NASDAQ:FOXA) Insider Adam G. Ciongoli Sells 1,278 Shares

Fox Co. (NASDAQ:FOXA) insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

FOX Stock Performance

Shares of FOXA opened at $53.24 on Friday. The stock has a 50 day moving average of $48.79 and a 200 day moving average of $44.03. The company has a market capitalization of $24.32 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.25 and a beta of 0.76. Fox Co. has a 12 month low of $28.28 and a 12 month high of $55.56. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s revenue was up 19.9% compared to the same quarter last year. During the same period last year, the firm posted $0.34 EPS. As a group, sell-side analysts forecast that Fox Co. will post 4.12 earnings per share for the current year.

FOX Announces Dividend

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 given a $0.27 dividend. This represents a yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio is 11.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. SRS Capital Advisors Inc. raised its position in shares of FOX by 91.0% in the fourth 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 period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in FOX during the 4th quarter valued at $28,000. Jones Financial Companies Lllp lifted its position in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after acquiring an additional 249 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after acquiring an additional 466 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of FOX in the third quarter valued at $51,000. 52.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FOXA. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and boosted their target price for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Citigroup upped their price target on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Barclays boosted their price target on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday. Evercore ISI raised shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. Finally, StockNews.com cut shares of FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FOX presently has an average rating of “Hold” and a consensus price target of $50.19.

FOX Company Profile

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.