Fox Corporation (NASDAQ:FOXA) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Fox Corporation (NASDAQ:FOXA) have earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $75.0667.

Several brokerages have commented on FOXA. Bank of America raised their target price on shares of FOX from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Fox Advisors set a $97.00 price objective on shares of FOX in a research note on Tuesday, October 28th. Morgan Stanley lifted their price objective on shares of FOX from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. boosted their target price on shares of FOX from $65.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, UBS Group raised their target price on FOX from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th.

FOX Stock Performance

FOXA opened at $56.35 on Monday. The company has a quick ratio of 2.44, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The firm has a market cap of $23.97 billion, a PE ratio of 13.55, a P/E/G ratio of 7.41 and a beta of 0.51. The business has a fifty day simple moving average of $71.03 and a 200-day simple moving average of $64.52. FOX has a fifty-two week low of $46.42 and a fifty-two week high of $76.39.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, February 4th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.47 by $0.35. FOX had a return on equity of 18.14% and a net margin of 11.41%.The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the prior year, the business posted $0.96 earnings per share. FOX’s revenue was up 2.0% compared to the same quarter last year. As a group, equities analysts predict that FOX will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, March 4th. This represents a yield of 83.0%. FOX’s dividend payout ratio (DPR) is presently 13.46%.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $59.26, for a total transaction of $5,926,000.00. Following the completion of the sale, the chairman directly owned 1,100,862 shares in the company, valued at approximately $65,237,082.12. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam G. Ciongoli sold 29,897 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the completion of the transaction, the insider owned 35,978 shares in the company, valued at approximately $2,502,269.90. This represents a 45.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 19.68% of the company’s stock.

Hedge Funds Weigh In On FOX

Hedge funds have recently modified their holdings of the stock. Winnow Wealth LLC acquired a new position in FOX during the third quarter worth $1,238,000. Bank of New York Mellon Corp boosted its stake in shares of FOX by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,924,975 shares of the company’s stock worth $121,389,000 after acquiring an additional 16,757 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of FOX by 9.3% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 662,247 shares of the company’s stock worth $41,761,000 after acquiring an additional 56,234 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of FOX by 23.0% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 150,522 shares of the company’s stock valued at $9,492,000 after acquiring an additional 28,118 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of FOX by 415.7% in the 2nd quarter. Marshall Wace LLP now owns 230,570 shares of the company’s stock valued at $12,921,000 after acquiring an additional 185,859 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.