FOX’s (FOXA) “Sell” Rating Reiterated at Cfra

Cfra reiterated their sell rating on shares of FOX (NASDAQ:FOXA) in a report released on Wednesday, Benzinga reports.

A number of other research analysts have also recently issued reports on the company. Rosenblatt Securities lifted their price objective on FOX from $37.00 to $38.00 and gave the company a neutral rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on FOX from $38.00 to $41.00 and gave the company a neutral rating in a report on Wednesday. Guggenheim lifted their price objective on FOX from $44.00 to $45.00 and gave the company a buy rating in a report on Tuesday. Macquarie lifted their price objective on FOX from $32.00 to $35.00 and gave the company a neutral rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group raised their target price on FOX from $42.00 to $44.00 and gave the company a buy rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $39.64.

FOX Stock Down 0.1 %

Shares of FOXA stock opened at $42.27 on Wednesday. The stock has a market cap of $19.73 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. FOX has a one year low of $28.28 and a one year high of $42.63. The stock has a fifty day moving average price of $39.59 and a 200 day moving average price of $35.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. FOX’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.88 earnings per share. Analysts predict that FOX will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.27 per share. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, September 4th. FOX’s payout ratio is presently 16.93%.

Insider Transactions at FOX

In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Several institutional investors have recently modified their holdings of FOXA. Hsbc Holdings PLC lifted its holdings in shares of FOX by 99.9% during the 4th quarter. Hsbc Holdings PLC now owns 652,921 shares of the company’s stock valued at $19,339,000 after purchasing an additional 326,254 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of FOX by 128.0% during the 4th quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock valued at $68,068,000 after purchasing an additional 1,287,911 shares in the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of FOX by 69,383.3% during the 4th quarter. TFO Wealth Partners LLC now owns 8,338 shares of the company’s stock valued at $247,000 after purchasing an additional 8,326 shares in the last quarter. Partners Capital Investment Group LLP lifted its holdings in shares of FOX by 2.9% during the 4th quarter. Partners Capital Investment Group LLP now owns 355,500 shares of the company’s stock valued at $10,548,000 after purchasing an additional 9,859 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in shares of FOX by 219.1% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 67,333 shares of the company’s stock valued at $1,998,000 after purchasing an additional 46,233 shares in the last quarter. 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 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.