Keith Rupert Murdoch Sells 58,000 Shares of Fox Co. (NASDAQ:FOXA) Stock

Fox Co. (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction on 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 owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

FOX Stock Down 0.1 %

Shares of NASDAQ:FOXA opened at $56.84 on Thursday. Fox Co. has a 1 year low of $28.28 and a 1 year high of $58.38. The business has a 50 day simple moving average of $51.36 and a two-hundred day simple moving average of $45.89. The firm has a market capitalization of $25.77 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.27 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, equities analysts predict that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FOXA. The Goldman Sachs Group set a $60.00 price target on FOX and gave the stock a “buy” rating in a research note on Tuesday, February 4th. StockNews.com lowered FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Citigroup raised their price objective on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Bank of America increased their price target on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.19.

Institutional Trading of FOX

Large investors have recently modified their holdings of the company. WealthTrak Capital Management LLC purchased a new stake in shares of FOX in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its holdings 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 purchasing an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of FOX in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp boosted its holdings in shares of FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

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.