FOX (NASDAQ:FOXA) CEO Lachlan Murdoch Purchases 149,934 Shares of Stock

Fox Corporation (NASDAQ:FOXA) CEO Lachlan Murdoch acquired 149,934 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the acquisition, the chief executive officer directly owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

FOX Stock Down 2.1%

NASDAQ:FOXA opened at $66.16 on Thursday. Fox Corporation has a 1-year low of $48.34 and a 1-year high of $76.39. The company has a 50-day moving average of $62.72 and a 200 day moving average of $61.15. The firm has a market cap of $27.76 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 1.21 and a beta of 0.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99.

FOX (NASDAQ:FOXA) last posted its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the firm posted $1.27 EPS. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, research analysts anticipate that Fox Corporation will post 5.94 EPS for the current fiscal year.

FOX Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. This represents a yield of 86.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX’s dividend payout ratio (DPR) is presently 15.14%.

Analyst Ratings Changes

FOXA has been the subject of a number of analyst reports. Fox Advisors set a $95.00 target price on FOX in a report on Monday. UBS Group reiterated a “neutral” rating on shares of FOX in a report on Monday, June 15th. Guggenheim reissued a “buy” rating and issued a $85.00 price target on shares of FOX in a research report on Tuesday, August 25th. Citigroup assumed coverage on FOX in a research note on Monday. They set an “outperform” rating for the company. Finally, Wells Fargo & Company raised FOX from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $65.00 to $80.00 in a research report on Friday, August 14th. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.35.

Institutional Investors Weigh In On FOX

Institutional investors have recently added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt boosted its position in FOX by 9.9% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 287,000 shares of the company’s stock valued at $16,755,000 after buying an additional 25,900 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in FOX by 85.3% in the 4th quarter. Handelsbanken Fonder AB now owns 88,009 shares of the company’s stock worth $6,431,000 after buying an additional 40,515 shares during the period. Geode Capital Management LLC raised its position in FOX by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock worth $476,248,000 after buying an additional 29,923 shares during the last quarter. Andra AP fonden lifted its stake in FOX by 208.1% during the 1st quarter. Andra AP fonden now owns 247,000 shares of the company’s stock valued at $14,425,000 after acquiring an additional 166,822 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in FOX by 2.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 966,811 shares of the company’s stock valued at $50,429,000 after acquiring an additional 24,511 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.

Fox’s businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.