Twenty-First Century Fox Inc. (FOX) Cut to Sell at Zacks Investment Research
Twenty-First Century Fox Inc. (NASDAQ:FOX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
According to Zacks, “Twenty-First Century Fox, Inc. is involved in creating and distributing media services. Its business portfolio consists of cable, broadcast, film, pay TV and satellite assets. Twenty-First Century Fox, Inc., formerly known as News Corporation, is based in New York, United States. “
A number of other equities research analysts have also issued reports on FOX. RBC Capital Markets reiterated an “outperform” rating and set a $32.00 target price (down from $36.00) on shares of Twenty-First Century Fox in a report on Thursday, August 4th. Citigroup Inc. reiterated a “buy” rating and set a $31.00 target price (down from $32.00) on shares of Twenty-First Century Fox in a report on Tuesday, August 16th. FBR & Co reiterated a “market perform” rating and set a $38.00 target price (down from $42.00) on shares of Twenty-First Century Fox in a report on Friday, August 5th. TheStreet lowered shares of Twenty-First Century Fox from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, Barclays PLC reiterated an “equal weight” rating and set a $29.00 target price (down from $33.00) on shares of Twenty-First Century Fox in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $32.44.
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Twenty-First Century Fox (NASDAQ:FOX) remained flat at $24.76 during trading on Thursday. The company’s stock had a trading volume of 2,853,019 shares. Twenty-First Century Fox has a 12 month low of $22.65 and a 12 month high of $31.58. The firm has a 50-day moving average price of $24.71 and a 200 day moving average price of $27.50. The stock has a market capitalization of $46.12 billion, a P/E ratio of 17.49 and a beta of 1.30.
The business also recently announced a dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 14th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, September 12th. Twenty-First Century Fox’s dividend payout ratio (DPR) is 25.35%.
In related news, insider Jeffrey W. Ubben bought 3,000,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were purchased at an average cost of $26.06 per share, with a total value of $78,180,000.00. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 39.40% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of FOX. Simplex Trading LLC increased its position in Twenty-First Century Fox by 476.3% in the third quarter. Simplex Trading LLC now owns 4,213 shares of the company’s stock worth $104,000 after buying an additional 3,482 shares during the period. Signaturefd LLC increased its position in Twenty-First Century Fox by 17.3% in the second quarter. Signaturefd LLC now owns 4,410 shares of the company’s stock worth $120,000 after buying an additional 650 shares during the period. Creative Planning increased its position in Twenty-First Century Fox by 53.2% in the second quarter. Creative Planning now owns 4,702 shares of the company’s stock worth $128,000 after buying an additional 1,633 shares during the period. Bessemer Group Inc. increased its position in Twenty-First Century Fox by 361.3% in the first quarter. Bessemer Group Inc. now owns 5,683 shares of the company’s stock worth $160,000 after buying an additional 4,451 shares during the period. Finally, Mizuho Asset Management Co. Ltd. increased its position in Twenty-First Century Fox by 121.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,544 shares of the company’s stock worth $178,000 after buying an additional 3,589 shares during the period. 21.66% of the stock is currently owned by hedge funds and other institutional investors.
Twenty-First Century Fox Company Profile
Twenty-First Century Fox, Inc is a media and entertainment company. The Company operates through segments: Cable Network Programming, Television, Filmed Entertainment, and Other, Corporate and Eliminations. The Company produces and licenses news, business news, sports, general entertainment, factual entertainment and movie programming for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies and online video distributors in the United States and internationally.
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