Key Points
- CEO Lachlan Murdoch bought 149,934 FOX shares at an average price of $68.53, investing approximately $10.27 million and increasing his stake by 11.98% to 1.4 million shares.
- FOX reported quarterly earnings of $1.79 per share and revenue of $4.21 billion, exceeding analyst estimates of $1.44 EPS and $3.64 billion in revenue.
- Analysts maintain a generally positive outlook, with FOX receiving a “Moderate Buy” consensus rating and an average price target of $77.67, compared with its reported opening price of $59.15.
Fox Corporation (NASDAQ:FOX - Get Free Report) CEO Lachlan Murdoch acquired 149,934 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the acquisition, the chief executive officer owned 1,401,713 shares in the company, valued at $96,059,391.89. This trade represents a 11.98% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
FOX Stock Performance
NASDAQ:FOX opened at $59.15 on Thursday. The firm has a market capitalization of $24.82 billion, a PE ratio of 15.44, a PEG ratio of 1.63 and a beta of 0.58. Fox Corporation has a 1 year low of $44.08 and a 1 year high of $68.18. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. The firm's fifty day simple moving average is $56.02 and its 200 day simple moving average is $54.91.
FOX (NASDAQ:FOX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. On average, sell-side analysts anticipate that Fox Corporation will post 5.99 EPS for the current year.
FOX Announces Dividend
The firm also recently announced a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 2nd. This represents a yield of 96.0%. FOX's dividend payout ratio is presently 15.14%.
Wall Street Analyst Weigh In
FOX has been the topic of several recent analyst reports. Guggenheim reaffirmed a "buy" rating on shares of FOX in a research report on Tuesday, August 25th. Citizens Jmp raised FOX to a "strong-buy" rating in a research report on Monday. Seaport Research Partners downgraded shares of FOX from a "buy" rating to a "hold" rating in a research note on Friday, August 7th. Fox Advisors set a $95.00 target price on shares of FOX in a research report on Monday. Finally, Rothschild & Co Redburn set a $71.00 target price on shares of FOX in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $77.67.
View Our Latest Stock Analysis on FOX
Institutional Investors Weigh In On FOX
Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc increased its stake in shares of FOX by 42.3% in the second quarter. Versant Capital Management Inc now owns 844 shares of the company's stock worth $40,000 after purchasing an additional 251 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in FOX by 4.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,644 shares of the company's stock worth $311,000 after buying an additional 254 shares in the last quarter. Arlington Partners LLC raised its holdings in FOX by 12.4% during the second quarter. Arlington Partners LLC now owns 5,054 shares of the company's stock valued at $237,000 after acquiring an additional 556 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of FOX by 27.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company's stock valued at $151,000 after acquiring an additional 613 shares in the last quarter. Finally, Corient Private Wealth LP boosted its stake in shares of FOX by 3.5% in the second quarter. Corient Private Wealth LP now owns 22,391 shares of the company's stock worth $1,049,000 after acquiring an additional 757 shares during the period. Institutional investors own 26.41% of the company's stock.
FOX Company Profile
(
Get Free Report)
Fox Corporation (NASDAQ: FOX) is a U.S.-based media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox's entertainment assets by The Walt Disney Company. FOX retained a portfolio focused on news, sports, broadcast television and digital streaming.
The company's principal businesses include Fox News Media, which operates Fox News Channel, Fox Business Network and related digital platforms; Fox Sports, which provides national and regional sports programming; and Fox Entertainment, which develops and distributes scripted and unscripted television content.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
