Fox Co. (NASDAQ:FOXA) Insider Adam G. Ciongoli Sells 1,278 Shares

Fox Co. (NASDAQ:FOXA) insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

FOX Trading Down 0.2 %

NASDAQ:FOXA traded down $0.11 during mid-day trading on Wednesday, reaching $54.53. 4,346,113 shares of the company’s stock traded hands, compared to its average volume of 3,548,761. Fox Co. has a 12-month low of $28.28 and a 12-month high of $55.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The company has a 50 day moving average price of $48.63 and a 200-day moving average price of $43.95. The firm has a market capitalization of $24.91 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.25 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The business’s revenue was up 19.9% compared to the same quarter last year. On average, sell-side analysts predict that Fox Co. will post 4.12 earnings per share for the current year.

FOX Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio is 13.20%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and upped their target price for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Evercore ISI raised FOX to a “hold” rating in a research note on Tuesday, November 5th. Macquarie reissued a “neutral” rating and set a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. The Goldman Sachs Group upped their target price on FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, UBS Group boosted their price objective on shares of FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.19.

Institutional Investors Weigh In On FOX

Large investors have recently modified their holdings of the stock. SRS Capital Advisors Inc. lifted its holdings in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after buying an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of FOX in the 4th quarter worth approximately $28,000. Brooklyn Investment Group lifted its stake in shares of FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after purchasing an additional 466 shares during the period. Quest Partners LLC bought a new stake in shares of FOX during the third quarter valued at approximately $51,000. Finally, Quarry LP purchased a new stake in FOX in the third quarter worth $70,000. Institutional investors own 52.52% of the company’s stock.

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.