Shares of Fox Corporation (NASDAQ:FOXA - Get Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $64.57 and traded as low as $62.73. FOX shares last traded at $63.86, with a volume of 3,873,160 shares traded.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. The Goldman Sachs Group restated a "buy" rating and set a $80.00 price target on shares of FOX in a research report on Wednesday, February 4th. Argus upgraded shares of FOX to a "hold" rating in a research report on Thursday, February 19th. Bank of America downgraded shares of FOX from a "buy" rating to an "underperform" rating and set a $45.00 price target on the stock. in a research report on Wednesday, February 25th. Wells Fargo & Company dropped their price target on shares of FOX from $75.00 to $67.00 and set an "equal weight" rating on the stock in a research report on Friday, March 27th. Finally, Morgan Stanley boosted their price target on shares of FOX from $74.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, FOX presently has an average rating of "Hold" and an average target price of $72.93.
Check Out Our Latest Stock Analysis on FOXA
FOX Price Performance
The company's 50 day moving average price is $59.38 and its 200-day moving average price is $64.57. The company has a market cap of $27.17 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 7.74 and a beta of 0.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.44 and a current ratio of 2.78.
FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.35. The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.02 billion. FOX had a return on equity of 18.14% and a net margin of 11.41%.The company's revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. On average, equities research analysts forecast that Fox Corporation will post 4.6 earnings per share for the current fiscal year.
FOX Announces Dividend
The business also recently announced a dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th were issued a dividend of $0.28 per share. This represents a dividend yield of 83.0%. The ex-dividend date of this dividend was Wednesday, March 4th. FOX's dividend payout ratio is currently 13.46%.
Insider Buying and Selling at FOX
In other news, CEO Lachlan K. Murdoch sold 637,752 shares of the company's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the sale, the chief executive officer directly owned 152 shares of the company's stock, valued at $8,846.40. This represents a 99.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Nallen sold 216,806 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $57.68, for a total value of $12,505,370.08. Following the sale, the chief operating officer directly owned 362,206 shares of the company's stock, valued at approximately $20,892,042.08. This represents a 37.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,586,871 shares of company stock valued at $91,893,926. 19.68% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Private Trust Co. NA lifted its stake in shares of FOX by 35.6% in the fourth quarter. Private Trust Co. NA now owns 712 shares of the company's stock worth $52,000 after buying an additional 187 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of FOX by 9.2% in the third quarter. Parallel Advisors LLC now owns 2,532 shares of the company's stock worth $160,000 after buying an additional 214 shares during the last quarter. Greenleaf Trust lifted its stake in shares of FOX by 3.8% in the third quarter. Greenleaf Trust now owns 6,198 shares of the company's stock worth $391,000 after buying an additional 225 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of FOX by 27.5% in the third quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company's stock worth $67,000 after buying an additional 229 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of FOX by 3.5% in the fourth quarter. Venturi Wealth Management LLC now owns 6,916 shares of the company's stock worth $505,000 after buying an additional 232 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.
About FOX
(
Get Free Report)
Fox Corporation NASDAQ: FOXA is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp's operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.
Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.
Further Reading
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