Fox Co. (NASDAQ:FOXA) Chairman Keith Rupert Murdoch Sells 58,000 Shares

Fox Co. (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

FOX Price Performance

NASDAQ FOXA opened at $56.84 on Thursday. Fox Co. has a 1 year low of $28.28 and a 1 year high of $58.38. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The company has a market cap of $25.77 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.27 and a beta of 0.76. The stock’s fifty day moving average price is $51.36 and its 200 day moving average price is $45.89.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.62 by $0.34. The business 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 quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. As a group, equities research analysts forecast that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is 11.56%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. TD Cowen upped their price target on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group set a $60.00 price target on FOX and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, Bank of America upped their price target on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, FOX presently has a consensus rating of “Hold” and a consensus target price of $51.19.

Hedge Funds Weigh In On FOX

Several institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in shares of FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock valued at $405,194,000 after purchasing an additional 425,186 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of FOX by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company’s stock valued at $185,344,000 after purchasing an additional 39,959 shares in the last quarter. Northern Trust Corp increased its holdings in shares of FOX by 17.1% during the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock valued at $170,111,000 after purchasing an additional 511,554 shares in the last quarter. Norges Bank purchased a new position in shares of FOX during the 4th quarter valued at approximately $132,161,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of FOX by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company’s stock valued at $130,043,000 after purchasing an additional 219,016 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.