Fox Co. (NASDAQ:FOXA) Given Consensus Recommendation of “Hold” by Brokerages

Fox Co. (NASDAQ:FOXA) has received an average rating of “Hold” from the eighteen brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $51.13.

Several equities analysts have issued reports on FOXA shares. Barclays lifted their target price on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. UBS Group increased their target price on shares of FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Citigroup lifted their price target on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upped their price target on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th.

FOX Trading Down 0.5 %

NASDAQ:FOXA opened at $54.92 on Friday. The firm has a 50-day simple moving average of $53.55 and a 200-day simple moving average of $47.88. FOX has a one year low of $30.02 and a one year high of $58.74. The firm has a market cap of $24.90 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.27 and a beta of 0.67. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Equities analysts anticipate that FOX will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were issued a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is currently 11.56%.

Insider Transactions at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of FOX by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after acquiring an additional 110,753 shares during the period. Invst LLC acquired a new position in FOX in the 3rd quarter worth about $740,000. Asset Management One Co. Ltd. raised its holdings in FOX by 25.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after purchasing an additional 23,704 shares during the period. Park Avenue Securities LLC boosted its position in FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after purchasing an additional 3,787 shares in the last quarter. Finally, Brookstone Capital Management acquired a new stake in FOX in the fourth quarter valued at approximately $492,000. 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.