Fox Corp (NASDAQ:FOX) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 2,230,000 shares, a drop of 23.6% from the January 15th total of 2,920,000 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is presently 1.7 days.
Several analysts have recently commented on FOX shares. BidaskClub downgraded FOX from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on FOX from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. ValuEngine upgraded FOX from a “sell” rating to a “hold” rating in a research note on Saturday, December 7th. Finally, Wells Fargo & Co reiterated an “underperform” rating and set a $32.00 price target (up previously from $30.00) on shares of FOX in a research note on Thursday, November 7th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $40.40.
FOX stock traded down $0.21 during mid-day trading on Friday, reaching $37.31. 750,538 shares of the company traded hands, compared to its average volume of 1,353,188. The stock has a market cap of $23.29 billion and a price-to-earnings ratio of 13.05. The company has a quick ratio of 2.67, a current ratio of 3.52 and a debt-to-equity ratio of 0.65. FOX has a fifty-two week low of $29.61 and a fifty-two week high of $41.73. The firm’s 50 day moving average price is $36.77 and its 200 day moving average price is $34.36.
FOX (NASDAQ:FOX) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.39). The company had revenue of $3.78 billion for the quarter. FOX had a net margin of 15.22% and a return on equity of 14.73%. During the same period in the prior year, the business earned $0.54 EPS.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 2.47%.
In other news, insider Viet D. Dinh sold 17,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $36.80, for a total value of $625,600.00. Following the completion of the sale, the insider now directly owns 8,536 shares in the company, valued at approximately $314,124.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 17.47% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in FOX. New Jersey Better Educational Savings Trust bought a new position in shares of FOX during the 3rd quarter worth approximately $284,000. New England Research & Management Inc. bought a new position in shares of FOX during the 3rd quarter worth approximately $792,000. Comerica Bank bought a new position in shares of FOX during the 3rd quarter worth approximately $977,000. Cacti Asset Management LLC lifted its position in shares of FOX by 13.0% during the 4th quarter. Cacti Asset Management LLC now owns 1,095,200 shares of the company’s stock worth $40,221,000 after buying an additional 126,002 shares in the last quarter. Finally, Pictet Asset Management Ltd. bought a new position in shares of FOX during the 3rd quarter worth approximately $2,298,000. Institutional investors and hedge funds own 23.36% of the company’s stock.
Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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