Fox Co. (NASDAQ:FOXA) Chairman Keith Rupert Murdoch Sells 58,000 Shares of Stock

Fox Co. (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

FOX Price Performance

FOXA stock opened at $56.91 on Wednesday. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a 52-week low of $28.28 and a 52-week high of $58.38. The stock’s 50 day moving average is $51.21 and its two-hundred day moving average is $45.81. The company has a market capitalization of $25.80 billion, a PE ratio of 12.19, a P/E/G ratio of 1.27 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.34 EPS. FOX’s revenue for the quarter was up 19.9% compared to the same quarter last year. Analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio (DPR) is 11.56%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FOXA. JPMorgan Chase & Co. lifted their price objective on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the company a “buy” rating in a research note on Tuesday, February 4th. Morgan Stanley lifted their price objective on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Bank of America lifted their price objective on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Citigroup lifted their price objective on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.19.

Institutional Investors Weigh In On FOX

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of FOX by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after acquiring an additional 110,753 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of FOX in the 3rd quarter valued at approximately $546,000. Invst LLC bought a new stake in shares of FOX in the 3rd quarter valued at approximately $740,000. Asset Management One Co. Ltd. grew its stake in FOX by 25.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after buying an additional 23,704 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in FOX during the 3rd quarter worth $2,867,000. 52.52% of the stock is currently owned by institutional investors.

About FOX

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.