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 firm’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 of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

FOX Trading Down 0.8 %

FOXA stock opened at $56.41 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a twelve month low of $28.28 and a twelve month high of $58.38. The company has a market cap of $25.58 billion, a P/E ratio of 12.08, a PEG ratio of 1.27 and a beta of 0.76. The business has a fifty day moving average of $51.51 and a 200-day moving average of $45.96.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping 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 firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the business posted $0.34 EPS. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. As a group, equities research analysts expect that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

The firm also recently disclosed 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 is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio is currently 11.56%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FOXA shares. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the company a “buy” rating in a report on Tuesday, February 4th. Barclays lifted their price target on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Guggenheim upped their price objective on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Evercore ISI upgraded shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley boosted their target price on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, FOX currently has a consensus rating of “Hold” and a consensus price target of $51.19.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of FOX by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after purchasing an additional 110,753 shares during the period. Entropy Technologies LP bought a new stake in FOX in the third quarter valued at about $546,000. Invst LLC acquired a new position in FOX in the third quarter valued at about $740,000. Asset Management One Co. Ltd. boosted its holdings in FOX by 25.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after buying an additional 23,704 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of FOX during the 3rd quarter worth about $2,867,000. 52.52% of the stock is owned by institutional investors.

About FOX

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.