FOX (NASDAQ:FOXA) Director Paul Ryan Sells 17,767 Shares of Stock

Fox Corporation (NASDAQ:FOXA) Director Paul Ryan sold 17,767 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $64.36, for a total transaction of $1,143,484.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

FOX Price Performance

Shares of FOX stock opened at $64.65 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.76 and a current ratio of 3.24. The firm’s 50-day simple moving average is $60.09 and its 200-day simple moving average is $56.37. Fox Corporation has a twelve month low of $41.78 and a twelve month high of $66.56. The firm has a market cap of $28.80 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.53 and a beta of 0.54.

FOX (NASDAQ:FOXA) last issued its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.41. FOX had a net margin of 12.35% and a return on equity of 18.61%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the business earned $1.45 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, research analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were given a dividend of $0.28 per share. This is an increase from FOX’s previous dividend of $0.18. The ex-dividend date was Wednesday, September 3rd. This represents a dividend yield of 93.0%. FOX’s dividend payout ratio (DPR) is presently 11.41%.

Hedge Funds Weigh In On FOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hemington Wealth Management boosted its position in FOX by 217.6% in the first quarter. Hemington Wealth Management now owns 524 shares of the company’s stock valued at $29,000 after buying an additional 359 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of FOX in the second quarter worth about $35,000. Zions Bancorporation National Association UT bought a new position in shares of FOX in the first quarter worth about $40,000. Allworth Financial LP raised its stake in shares of FOX by 55.2% in the first quarter. Allworth Financial LP now owns 787 shares of the company’s stock worth $45,000 after acquiring an additional 280 shares during the last quarter. Finally, TCTC Holdings LLC raised its stake in shares of FOX by 112.5% in the first quarter. TCTC Holdings LLC now owns 797 shares of the company’s stock worth $45,000 after acquiring an additional 422 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FOXA. Fox Advisors set a $97.00 target price on shares of FOX in a research report on Tuesday. Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, August 5th. Bank of America lifted their target price on shares of FOX from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of FOX from $61.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, FOX currently has a consensus rating of “Moderate Buy” and an average target price of $67.17.

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.