Key Points
- CFO Steven Tomsic sold 138,397 FOXA shares on November 10 at an average price of $66.54 for about $9.21 million, reducing his direct stake by 43.39% to 180,556 shares (disclosed in an SEC filing).
- Fox beat expectations in its most recent quarter (reported Oct. 30) with EPS $1.51 vs. $1.10 estimated and revenue of $3.74 billion (up 4.9% year-over-year), with a 12.35% net margin and 18.61% ROE.
- Shares trade around $66.53 (near a 52-week high of $67.17) with a market cap of ~$29.5 billion, and analysts carry a "Moderate Buy" consensus with an average price target of $69.94.
Fox Corporation (NASDAQ:FOXA - Get Free Report) CFO Steven Tomsic sold 138,397 shares of FOX stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $66.54, for a total transaction of $9,208,936.38. Following the transaction, the chief financial officer directly owned 180,556 shares in the company, valued at $12,014,196.24. The trade was a 43.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
FOX Stock Up 0.8%
Shares of NASDAQ FOXA opened at $66.53 on Tuesday. Fox Corporation has a 52-week low of $44.73 and a 52-week high of $67.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24. The stock has a market cap of $29.54 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.48 and a beta of 0.52. The firm has a 50 day moving average price of $60.77 and a 200 day moving average price of $57.19.
FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.41. FOX had a net margin of 12.35% and a return on equity of 18.61%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the business posted $1.45 earnings per share. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts expect that Fox Corporation will post 4.38 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. CWM LLC increased its position in FOX by 8.6% during the first quarter. CWM LLC now owns 6,663 shares of the company's stock worth $377,000 after buying an additional 527 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of FOX by 246.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,009 shares of the company's stock valued at $4,132,000 after buying an additional 51,960 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of FOX during the 1st quarter worth approximately $420,000. Royal Bank of Canada increased its holdings in shares of FOX by 26.5% during the 1st quarter. Royal Bank of Canada now owns 303,521 shares of the company's stock worth $17,179,000 after acquiring an additional 63,538 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of FOX during the 1st quarter worth approximately $1,816,000. Institutional investors and hedge funds own 52.52% of the company's stock.
Analysts Set New Price Targets
Several research firms have weighed in on FOXA. Wall Street Zen lowered FOX from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Guggenheim lifted their price objective on FOX from $62.00 to $68.00 and gave the company a "buy" rating in a report on Friday, September 26th. Arete Research upgraded FOX to a "strong-buy" rating in a research report on Tuesday, October 28th. Evercore ISI increased their target price on FOX from $55.00 to $66.00 and gave the stock an "in-line" rating in a research note on Friday, October 31st. Finally, Fox Advisors set a $97.00 price target on shares of FOX in a research note on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, FOX currently has an average rating of "Moderate Buy" and a consensus price target of $69.94.
Read Our Latest Stock Report on FOXA
FOX Company Profile
(
Get Free Report)
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.
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