Fox Co. Declares Semi-Annual Dividend of $0.26 (NASDAQ:FOXA)

Fox Co. (NASDAQ:FOXAGet Free Report) declared a Semi-Annual dividend on Tuesday, February 6th, Zacks reports. Shareholders of record on Wednesday, March 6th will be given a dividend of 0.26 per share on Tuesday, March 26th. This represents a yield of 1.8%. The ex-dividend date is Tuesday, March 5th.

FOX has increased its dividend by an average of 3.5% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. FOX has a payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect FOX to earn $3.84 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 13.5%.

FOX Price Performance

FOXA stock opened at $29.42 on Monday. The stock has a market cap of $13.97 billion, a PE ratio of 17.41, a P/E/G ratio of 0.39 and a beta of 0.78. FOX has a 12 month low of $28.51 and a 12 month high of $35.56. The company has a 50-day moving average price of $30.55 and a 200 day moving average price of $30.75. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70.

FOX (NASDAQ:FOXAGet Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities research analysts anticipate that FOX will post 3.21 earnings per share for the current year.

Wall Street Analyst Weigh In

FOXA has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Citigroup raised FOX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $35.00 in a research note on Friday, February 23rd. Macquarie increased their price target on FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, TheStreet downgraded FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.45.

View Our Latest Analysis on FOXA

Institutional Investors Weigh In On FOX

A number of large investors have recently made changes to their positions in FOXA. Creative Planning grew its stake in FOX by 92,842.9% during the 2nd quarter. Creative Planning now owns 6,506 shares of the company’s stock valued at $209,000 after purchasing an additional 6,499 shares during the last quarter. Veritable L.P. acquired a new position in FOX in the 1st quarter worth approximately $205,000. Captrust Financial Advisors raised its position in FOX by 44.9% during the 1st quarter. Captrust Financial Advisors now owns 4,075 shares of the company’s stock worth $161,000 after buying an additional 1,262 shares during the last quarter. Covestor Ltd lifted its stake in FOX by 67.9% during the 1st quarter. Covestor Ltd now owns 4,014 shares of the company’s stock valued at $158,000 after acquiring an additional 1,624 shares during the period. Finally, AM Squared Ltd purchased a new stake in shares of FOX in the 1st quarter valued at $133,000. 55.93% of the stock is owned by hedge funds and other institutional investors.

About FOX

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Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). 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 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.

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Dividend History for FOX (NASDAQ:FOXA)

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