Lachlan Murdoch Purchases 149,934 Shares of FOX (NASDAQ:FOXA) Stock

Key Points

• CEO Lachlan Murdoch purchased 149,934 FOXA shares at an average price of $68.53, investing approximately $10.27 million and increasing his stake by 11.98%.
• FOXA shares fell 2.1% to $66.16, while the company’s latest quarterly results exceeded expectations with $1.79 in EPS and $4.21 billion in revenue.
• Analysts maintain a consensus “Hold” rating with an average price target of $76.35; Fox also declared a $0.29 per-share dividend.

Fox Corporation (NASDAQ:FOXA - Get Free Report) CEO Lachlan Murdoch acquired 149,934 shares of the stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the purchase, the chief executive officer owned 1,401,713 shares of the company's stock, valued at approximately $96,059,391.89. This trade represents a 11.98% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

FOX Stock Down 2.1%

FOXA traded down $1.41 during trading hours on Wednesday, hitting $66.16. 4,579,313 shares of the company's stock were exchanged, compared to its average volume of 4,793,313. Fox Corporation has a 12-month low of $48.34 and a 12-month high of $76.39. The firm has a 50 day moving average of $62.46 and a 200 day moving average of $61.09. The firm has a market cap of $27.76 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.23 and a beta of 0.55. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.44 by $0.35. The company had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. The firm's revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 EPS. Analysts predict that Fox Corporation will post 5.94 EPS for the current fiscal year.

FOX Announces Dividend

The business also recently announced a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a yield of 86.0%. FOX's dividend payout ratio (DPR) is 15.14%.

Analyst Ratings Changes

Several research firms recently commented on FOXA. Citizens Jmp began coverage on FOX in a research note on Monday. They set a "market outperform" rating and a $95.00 target price for the company. Rothschild & Co Redburn set a $71.00 price target on FOX and gave the company a "buy" rating in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $80.00 price objective on shares of FOX in a research note on Friday, August 14th. Barclays lowered their price objective on FOX from $67.00 to $60.00 and set an "equal weight" rating for the company in a research report on Monday, June 15th. Finally, Wolfe Research raised shares of FOX from a "peer perform" rating to an "outperform" rating and set a $71.00 target price on the stock in a report on Tuesday, June 30th. Ten equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $76.35.

Hedge Funds Weigh In On FOX

Several large investors have recently bought and sold shares of FOXA. Elyxium Wealth LLC purchased a new stake in FOX in the fourth quarter valued at $27,000. Wilkerson Advisory Group LLC boosted its stake in FOX by 50.6% in the first quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company's stock valued at $84,000 after acquiring an additional 482 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of FOX by 20.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company's stock worth $85,000 after purchasing an additional 251 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in FOX by 2,503.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,536 shares of the company's stock worth $80,000 after buying an additional 1,477 shares during the last quarter. Finally, Groupe la Francaise acquired a new stake in shares of FOX in the second quarter valued at approximately $99,000. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Company Profile

Fox Corporation NASDAQ: FOXA is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.

Fox's businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.

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