Adam G. Ciongoli Sells 1,278 Shares of Fox Co. (NASDAQ:FOXA) Stock

Fox Co. (NASDAQ:FOXA) insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

FOX Price Performance

FOX stock traded down $0.11 during midday trading on Wednesday, reaching $54.53. The company had a trading volume of 4,346,113 shares, compared to its average volume of 3,548,761. The firm’s fifty day simple moving average is $48.63 and its 200-day simple moving average is $43.95. Fox Co. has a 12-month low of $28.28 and a 12-month high of $55.56. The company has a market capitalization of $24.91 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last issued 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 16.49% and a net margin of 13.40%. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the business earned $0.34 EPS. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, equities analysts anticipate that Fox Co. will post 4.12 EPS for the current year.

FOX Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. This represents a yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is presently 13.20%.

Institutional Trading of FOX

Several institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after purchasing an additional 110,753 shares in the last quarter. Entropy Technologies LP purchased a new position in FOX during the 3rd quarter worth approximately $546,000. Invst LLC acquired a new position in shares of FOX in the 3rd quarter valued at $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of FOX in the third quarter valued at about $2,867,000. Finally, Park Avenue Securities LLC lifted its position in FOX by 32.4% during the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after acquiring an additional 3,787 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FOXA. The Goldman Sachs Group raised their target price on shares of FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Barclays lifted their target price on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday. Evercore ISI upgraded FOX to a “hold” rating in a research note on Tuesday, November 5th. UBS Group boosted their price objective on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, TD Cowen increased their target price on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, FOX presently has an average rating of “Hold” and an average price target of $50.19.

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.