FOX Target of Unusually High Options Trading (NASDAQ:FOXA)

Fox Co. (NASDAQ:FOXA) was the recipient of some unusual options trading on Monday. Traders bought 16,602 call options on the stock. This is an increase of 900% compared to the typical volume of 1,660 call options.

Institutional Investors Weigh In On FOX

Several hedge funds and other institutional investors have recently made changes to their positions in the business. LSV Asset Management raised its position in shares of FOX by 9.0% during the 4th quarter. LSV Asset Management now owns 8,293,153 shares of the company’s stock worth $246,058,000 after acquiring an additional 686,762 shares in the last quarter. Northern Trust Corp increased its position in FOX by 67.8% during the third quarter. Northern Trust Corp now owns 5,640,787 shares of the company’s stock worth $175,993,000 after buying an additional 2,279,923 shares during the period. Dimensional Fund Advisors LP increased its position in FOX by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,391,117 shares of the company’s stock worth $100,618,000 after buying an additional 51,942 shares during the period. Great Lakes Advisors LLC increased its position in FOX by 39.9% during the third quarter. Great Lakes Advisors LLC now owns 2,414,239 shares of the company’s stock worth $75,324,000 after buying an additional 688,193 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in FOX by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,443 shares of the company’s stock worth $68,996,000 after buying an additional 42,143 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FOXA. Citigroup raised FOX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $35.00 in a research note on Friday, February 23rd. Wells Fargo & Company reduced their price objective on 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 FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Seaport Res Ptn raised FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. Finally, TheStreet downgraded FOX from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.40.

FOX Trading Up 1.1 %

FOX stock traded up $0.34 during midday trading on Monday, reaching $31.55. 911,355 shares of the stock traded hands, compared to its average volume of 3,314,414. The company has a 50-day simple moving average of $30.33 and a two-hundred day simple moving average of $30.40. FOX has a 12-month low of $28.28 and a 12-month high of $35.40. The firm has a market cap of $14.98 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 0.42 and a beta of 0.78. 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:FOXA) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.24. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. FOX’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. Research analysts expect that FOX will post 3.18 earnings per share for the current fiscal year.

FOX Dividend Announcement

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were given a $0.26 dividend. This represents a yield of 1.8%. The ex-dividend date was Tuesday, March 5th. FOX’s dividend payout ratio is currently 30.77%.

FOX Company Profile

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.