Fox Co. (NASDAQ:FOXA) Chairman Sells $4,205,000.00 in Stock

Fox Co. (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

FOX Trading Down 0.2 %

Shares of FOX stock opened at $44.60 on Friday. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $45.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The company has a market cap of $20.53 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. The firm has a 50-day simple moving average of $41.66 and a two-hundred day simple moving average of $37.62.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 earnings per share. As a group, equities analysts predict that Fox Co. will post 3.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FOX

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOXA. Massmutual Trust Co. FSB ADV lifted its holdings in FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares in the last quarter. Friedenthal Financial acquired a new position in shares of FOX during the 2nd quarter worth about $51,000. Quest Partners LLC purchased a new position in FOX in the 3rd quarter valued at about $51,000. Duncker Streett & Co. Inc. acquired a new stake in FOX in the 2nd quarter worth about $52,000. Finally, Meeder Asset Management Inc. purchased a new stake in FOX during the 1st quarter worth approximately $66,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group upped their target price on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America lifted their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Wells Fargo & Company increased their price objective on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Barclays lifted their target price on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, FOX presently has an average rating of “Hold” and an average target price of $44.00.

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.