Fox Corporation (NASDAQ:FOXA) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Fox Corporation has received an average rating of "Hold" from 19 research firms, with one sell, nine holds, and nine buy recommendations; the average 12-month price target is $56.20.
• CFO Steven Tomsic recently sold 5,607 shares of Fox stock for approximately $310,459, reducing his holdings by 4.02%.
• Fox Corporation declared a dividend increase to $0.28 per share, up from $0.18, with the payment date set for September 24th and a record date of September 3rd.

Shares of Fox Corporation (NASDAQ:FOXA - Get Free Report) have been assigned an average rating of "Hold" from the nineteen research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $56.20.

Several equities analysts recently commented on the stock. Loop Capital upped their target price on shares of FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. Guggenheim reiterated a "buy" rating and set a $62.00 target price (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Wells Fargo & Company upped their target price on shares of FOX from $62.00 to $66.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, UBS Group set a $65.00 target price on shares of FOX and gave the company a "buy" rating in a research note on Wednesday, June 25th.

Insider Transactions at FOX

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer owned 133,923 shares of the company's stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 21.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On FOX

Several institutional investors and hedge funds have recently bought and sold shares of FOXA. NewEdge Advisors LLC increased its holdings in FOX by 390.4% in the 4th quarter. NewEdge Advisors LLC now owns 5,291 shares of the company's stock valued at $257,000 after buying an additional 4,212 shares during the period. Hsbc Holdings PLC increased its holdings in FOX by 12.0% in the 4th quarter. Hsbc Holdings PLC now owns 547,621 shares of the company's stock valued at $26,624,000 after buying an additional 58,687 shares during the period. Pinebridge Investments L.P. bought a new stake in FOX in the 4th quarter valued at $1,902,000. Integrated Wealth Concepts LLC bought a new stake in shares of FOX in the 4th quarter worth about $813,000. Finally, Nebula Research & Development LLC bought a new stake in shares of FOX in the 4th quarter worth about $525,000. Institutional investors own 52.52% of the company's stock.

FOX Price Performance

NASDAQ:FOXA opened at $59.42 on Monday. The stock has a market cap of $26.47 billion, a P/E ratio of 12.10, a PEG ratio of 1.42 and a beta of 0.54. FOX has a one year low of $38.72 and a one year high of $60.24. The company has a fifty day moving average price of $56.14 and a 200 day moving average price of $54.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.01 by $0.26. The firm had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. Analysts anticipate that FOX will post 4.38 earnings per share for the current year.

FOX Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. This is a boost from FOX's previous dividend of $0.18. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's payout ratio is presently 11.00%.

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.

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