Zacks Investment Research Lowers Twenty-First Century Fox Inc. (FOX) to Sell
Twenty-First Century Fox Inc. (NASDAQ:FOX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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 analysts have also weighed in on the company. RBC Capital Markets restated an “outperform” rating and issued a $32.00 target price (down from $36.00) on shares of Twenty-First Century Fox in a research note on Thursday, August 4th. Credit Suisse Group AG restated an “outperform” rating and issued a $33.00 target price (down from $38.00) on shares of Twenty-First Century Fox in a research note on Saturday, August 6th. FBR & Co restated a “market perform” rating and issued a $38.00 target price (down from $42.00) on shares of Twenty-First Century Fox in a research note on Friday, August 5th. Brean Capital started coverage on Twenty-First Century Fox in a research note on Thursday, July 7th. They issued a “hold” rating on the stock. Finally, TheStreet lowered Twenty-First Century Fox from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $32.44.
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Shares of Twenty-First Century Fox (NASDAQ:FOX) remained flat at $24.76 during mid-day trading on Thursday. 2,853,019 shares of the stock traded hands. The stock’s 50-day moving average price is $24.71 and its 200-day moving average price is $27.50. The company has a market cap of $46.12 billion, a price-to-earnings ratio of 17.49 and a beta of 1.30. Twenty-First Century Fox has a 1-year low of $22.65 and a 1-year high of $31.58.
The company also recently announced a dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Wednesday, September 14th will be given a $0.18 dividend. The ex-dividend date is Monday, September 12th. Twenty-First Century Fox’s dividend payout ratio is currently 25.35%.
In other news, insider Jeffrey W. Ubben bought 3,000,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was purchased at an average price of $26.06 per share, with a total value of $78,180,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 39.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services Inc raised its position in shares of Twenty-First Century Fox by 21.0% in the first quarter. Commonwealth Equity Services Inc now owns 13,818 shares of the company’s stock valued at $390,000 after buying an additional 2,394 shares in the last quarter. Aperio Group LLC raised its position in Twenty-First Century Fox by 1.3% in the first quarter. Aperio Group LLC now owns 29,332 shares of the company’s stock worth $827,000 after buying an additional 371 shares during the period. Ngam Advisors L.P. raised its position in Twenty-First Century Fox by 8.9% in the first quarter. Ngam Advisors L.P. now owns 55,039 shares of the company’s stock worth $1,552,000 after buying an additional 4,500 shares during the period. TIAA CREF Investment Management LLC raised its position in Twenty-First Century Fox by 9.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,485,261 shares of the company’s stock worth $41,884,000 after buying an additional 133,545 shares during the period. Finally, Teachers Advisors Inc. raised its position in Twenty-First Century Fox by 6.5% in the first quarter. Teachers Advisors Inc. now owns 493,439 shares of the company’s stock worth $13,915,000 after buying an additional 30,286 shares during the period. 21.66% of the stock is owned by hedge funds and other institutional investors.
About Twenty-First Century Fox
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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