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 company’s 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 transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

FOX Trading Down 1.9 %

Shares of FOX stock opened at $56.91 on Wednesday. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a market cap of $25.80 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.76. The business has a fifty day simple moving average of $51.21 and a 200-day simple moving average of $45.81. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $58.38.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 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 the consensus estimate of $4.78 billion. During the same period in the prior year, the business posted $0.34 earnings per share. FOX’s revenue was up 19.9% compared to the same quarter last year. On average, equities analysts forecast that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

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

Wall Street Analysts Forecast Growth

FOXA has been the subject of a number of recent research reports. Evercore ISI upgraded FOX to a “hold” rating in a research note on Tuesday, November 5th. Loop Capital boosted their price target on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company boosted their price target on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. StockNews.com lowered FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. One investment 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.com, FOX presently has a consensus rating of “Hold” and an average target price of $51.19.

Institutional Investors Weigh In On FOX

Several hedge funds have recently modified their holdings of FOXA. WealthTrak Capital Management LLC purchased a new stake in shares of FOX during the fourth quarter valued at $26,000. SRS Capital Advisors Inc. lifted its holdings in shares of FOX by 91.0% during 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 last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of FOX during the fourth quarter valued at $28,000. Jones Financial Companies Lllp lifted its holdings in shares of FOX by 61.5% during 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 last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of FOX by 122.3% during 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 last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.