Fox Co. (NASDAQ:FOXA) Receives Average Rating of “Hold” from Brokerages

Shares of Fox Co. (NASDAQ:FOXA) have earned a consensus rating of “Hold” from the eighteen analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $51.56.

FOXA has been the topic of a number of research reports. Guggenheim reiterated a “buy” rating and issued a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. Loop Capital lifted their price objective on FOX from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup upped their target price on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. UBS Group lifted their price target on FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st.

FOX Stock Performance

Shares of FOXA opened at $51.83 on Friday. The stock has a 50-day moving average of $54.26 and a two-hundred day moving average of $48.42. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The stock has a market cap of $23.50 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.27 and a beta of 0.51. FOX has a one year low of $30.02 and a one year high of $58.74.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. FOX’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, research analysts predict that FOX will post 4.38 EPS for the current year.

FOX Dividend Announcement

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

Insider Activity at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FOX

A number of hedge funds have recently modified their holdings of FOXA. Versant Capital Management Inc grew its stake in shares of FOX by 403.1% in the 1st quarter. Versant Capital Management Inc now owns 8,634 shares of the company’s stock valued at $489,000 after buying an additional 6,918 shares during the period. Kera Capital Partners Inc. acquired a new stake in FOX during the first quarter worth $309,000. California State Teachers Retirement System raised its position in FOX by 4.2% in the fourth quarter. California State Teachers Retirement System now owns 307,111 shares of the company’s stock valued at $14,919,000 after purchasing an additional 12,251 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of FOX by 7.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,468 shares of the company’s stock valued at $509,000 after purchasing an additional 754 shares during the last quarter. Finally, Siemens Fonds Invest GmbH acquired a new position in shares of FOX in the 4th quarter valued at $987,000. 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.