Fox Co. (NASDAQ:FOXA) Declares Semi-annual Dividend of $0.27

Fox Co. (NASDAQ:FOXA) announced a semi-annual dividend on Wednesday, February 5th,Wall Street Journal reports. Shareholders of record on Wednesday, March 5th will be paid a dividend of 0.27 per share on Wednesday, March 26th. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th.

FOX has raised its dividend by an average of 4.1% per year over the last three years. FOX has a payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect FOX to earn $3.88 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 13.9%.

FOX Price Performance

Shares of NASDAQ FOXA opened at $53.24 on Friday. FOX has a one year low of $28.28 and a one year high of $55.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The company’s fifty day moving average is $48.79 and its two-hundred day moving average is $44.03. The firm has a market capitalization of $24.32 billion, a P/E ratio of 13.02, a PEG ratio of 1.25 and a beta of 0.76.

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. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the firm earned $0.34 EPS. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. Analysts forecast that FOX will post 4.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FOXA shares. Morgan Stanley upped their target price on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Loop Capital upped their target price on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and upped their target price for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. UBS Group upped their target price on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group upped their price objective on shares of FOX from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $50.19.

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction 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 owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

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.