Fox Co. (NASDAQ:FOXA) Receives Consensus Recommendation of “Hold” from Analysts

Fox Co. (NASDAQ:FOXA) has been assigned an average recommendation of “Hold” from the eighteen analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $51.56.

FOXA has been the subject of a number of research reports. The Goldman Sachs Group set a $60.00 target price on shares of FOX and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on shares of FOX from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Loop Capital increased their target price on FOX from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group lifted their price target on FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Bank of America increased their price objective on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th.

Insider Activity

In related news, 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 sale, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. DnB Asset Management AS boosted its position in FOX by 0.6% during the 4th quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock valued at $2,141,000 after buying an additional 245 shares during the period. Jones Financial Companies Lllp boosted its holdings 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 purchasing an additional 249 shares during the period. SRS Capital Advisors Inc. grew its stake in shares of FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after purchasing an additional 262 shares during the last quarter. US Bancorp DE increased its holdings in FOX by 2.0% during the 4th quarter. US Bancorp DE now owns 14,520 shares of the company’s stock valued at $705,000 after purchasing an additional 281 shares during the period. Finally, Metis Global Partners LLC raised its position in FOX by 2.8% during the 4th quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock valued at $524,000 after purchasing an additional 292 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Trading Down 1.4 %

Shares of FOXA stock opened at $55.82 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a market cap of $25.31 billion, a P/E ratio of 11.95, a PEG ratio of 1.27 and a beta of 0.67. The company has a 50 day moving average of $54.02 and a 200-day moving average of $48.33. FOX has a 12-month low of $30.02 and a 12-month high of $58.74.

FOX (NASDAQ:FOXA) last issued 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 for the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. Sell-side analysts anticipate that FOX will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

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

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.