FOX (NASDAQ:FOX) Downgraded to Hold at Seaport Res Ptn

Seaport Res Ptn lowered shares of FOX (NASDAQ:FOX) from a strong-buy rating to a hold rating in a research report report published on Monday morning, Zacks.com reports.

FOX Stock Down 1.1 %

Shares of NASDAQ FOX opened at $36.04 on Monday. The firm has a 50 day moving average price of $35.88 and a 200 day moving average price of $31.73. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. The stock has a market cap of $16.82 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.95 and a beta of 0.81. FOX has a 52-week low of $25.82 and a 52-week high of $38.51.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. During the same quarter in the prior year, the company earned $0.88 EPS. Analysts expect that FOX will post 3.59 EPS for the current year.

FOX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Wednesday, September 4th. This is a boost from FOX’s previous quarterly dividend of $0.26. FOX’s dividend payout ratio is 16.93%.

Insider Transactions at FOX

In related news, COO John Nallen sold 52,874 shares of the 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 completion of 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 filing with the SEC, which can be accessed through this link. In other FOX news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following 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. 19.21% of the stock is owned by insiders.

Institutional Investors Weigh In On FOX

Several hedge funds have recently bought and sold shares of FOX. Blue Trust Inc. increased its stake in shares of FOX by 692.1% during the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock worth $45,000 after purchasing an additional 1,232 shares during the period. Friedenthal Financial bought a new position in FOX during the 2nd quarter worth $51,000. V Square Quantitative Management LLC lifted its holdings in shares of FOX by 20.8% during the fourth quarter. V Square Quantitative Management LLC now owns 3,391 shares of the company’s stock worth $94,000 after buying an additional 585 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of FOX in the first quarter valued at about $97,000. Finally, TFO Wealth Partners LLC grew its stake in shares of FOX by 67,566.7% in the fourth quarter. TFO Wealth Partners LLC now owns 4,060 shares of the company’s stock valued at $112,000 after acquiring an additional 4,054 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

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.