Insider Selling: Fox Co. (NASDAQ:FOXA) Chairman Sells $3,083,860.00 in Stock

Fox Co. (NASDAQ:FOXA) 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 value of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

FOX Stock Down 0.8 %

Shares of FOX stock opened at $56.41 on Friday. Fox Co. has a 12-month low of $28.28 and a 12-month high of $58.38. 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 stock has a 50 day moving average price of $51.51 and a two-hundred day moving average price of $45.96. The stock has a market capitalization of $25.58 billion, a P/E ratio of 12.08, a PEG ratio of 1.27 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the company earned $0.34 earnings per share. FOX’s revenue for the quarter was up 19.9% on a year-over-year basis. Equities analysts expect that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio is currently 11.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FOXA shares. Citigroup upped their target price on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Barclays upped their price objective on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Evercore ISI raised shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. Loop Capital upped their price target on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Bank of America lifted their price objective on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, FOX presently has an average rating of “Hold” and a consensus price target of $51.19.

Hedge Funds Weigh In On FOX

A number of institutional investors have recently made changes to their positions in the business. WealthTrak Capital Management LLC bought a new stake in FOX during the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted 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 acquiring an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of FOX in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp grew its stake in shares of FOX by 61.5% in 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 during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after acquiring an additional 368 shares during the period. 52.52% of the stock is currently owned by 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.