Key Points
- FOX CEO Lachlan Murdoch bought 149,934 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 adjusted earnings of $1.79 per share and revenue of $4.21 billion, exceeding analyst estimates, while revenue grew 28.1% year over year.
- Analyst sentiment is mixed, with the stock carrying an average “Hold” rating and a consensus price target of $76.35; institutional investors own 52.52% of FOX shares.
Fox Corporation (NASDAQ:FOXA - Get Free Report) CEO Lachlan Murdoch acquired 149,934 shares of the stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the transaction, the chief executive officer owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This represents a 11.98% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
FOX Stock Down 2.1%
FOXA stock opened at $66.16 on Thursday. Fox Corporation has a one year low of $48.34 and a one year high of $76.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The firm's fifty day moving average is $62.72 and its 200 day moving average is $61.15. The firm has a market cap of $27.76 billion, a PE ratio of 17.27, a P/E/G ratio of 1.21 and a beta of 0.55.
FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the firm posted $1.27 earnings per share. The company's revenue was up 28.1% compared to the same quarter last year. On average, research analysts forecast that Fox Corporation will post 5.94 EPS for the current year.
FOX Announces Dividend
The firm also recently declared a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a dividend yield of 86.0%. The ex-dividend date is Wednesday, September 2nd. FOX's payout ratio is currently 15.14%.
Wall Street Analysts Forecast Growth
FOXA has been the topic of several research analyst reports. Seaport Research Partners lowered FOX from a "buy" rating to a "neutral" rating in a report on Friday, August 7th. Wolfe Research raised FOX from a "peer perform" rating to an "outperform" rating and set a $71.00 target price for the company in a research note on Tuesday, June 30th. Fox Advisors set a $95.00 target price on FOX in a research report on Monday. Rothschild & Co Redburn set a $71.00 price target on shares of FOX and gave the company a "buy" rating in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. raised shares of FOX from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $70.00 to $82.00 in a report on Friday, August 14th. Ten investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $76.35.
Check Out Our Latest Stock Analysis on FOXA
Hedge Funds Weigh In On FOX
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of FOX by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company's stock worth $476,248,000 after acquiring an additional 29,923 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of FOX by 12.4% during the second quarter. Squarepoint Ops LLC now owns 1,127,389 shares of the company's stock worth $58,805,000 after purchasing an additional 124,143 shares in the last quarter. Allianz Asset Management GmbH raised its stake in FOX by 2.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 966,811 shares of the company's stock valued at $50,429,000 after purchasing an additional 24,511 shares during the last quarter. Junto Capital Management LP acquired a new position in FOX in the 2nd quarter valued at $34,773,000. Finally, SG Americas Securities LLC raised its stake in FOX by 299.8% in the 1st quarter. SG Americas Securities LLC now owns 511,811 shares of the company's stock valued at $29,890,000 after purchasing an additional 383,782 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.
About FOX
(
Get Free Report)
Fox Corporation (NASDAQ: FOXA) is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.
Fox's businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.
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