Insider Selling: Fox Co. (NASDAQ:FOXA) Chairman Sells 58,000 Shares of Stock

Fox Co. (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction on 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 sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

FOX Price Performance

FOXA stock traded down $1.09 during midday trading on Tuesday, reaching $56.91. The company had a trading volume of 5,553,057 shares, compared to its average volume of 3,825,629. Fox Co. has a 1-year low of $28.28 and a 1-year high of $58.38. The stock has a 50 day moving average price of $51.05 and a 200-day moving average price of $45.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The company has a market capitalization of $25.80 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth 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 for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the business posted $0.34 earnings per share. FOX’s revenue was up 19.9% compared to the same quarter last year. Equities research analysts expect that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio is 11.56%.

Analyst Upgrades and Downgrades

Several research firms have commented on FOXA. Barclays upped their price objective on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. UBS Group upped their price target on shares of FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Bank of America raised their price objective on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Guggenheim upped their target price on FOX from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company increased their target price on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, FOX has a consensus rating of “Hold” and a consensus price target of $51.19.

Institutional Investors Weigh In On FOX

Institutional investors and hedge funds have recently bought and sold shares of the company. WealthTrak Capital Management LLC bought a new stake in FOX during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. lifted its holdings in shares of 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 acquiring an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of FOX in the fourth quarter worth about $28,000. Jones Financial Companies Lllp lifted its holdings in shares of FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after acquiring an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after acquiring an additional 368 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Company Profile

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.