FOX (NASDAQ:FOXA) Research Coverage Started at Citizens Jmp

Citizens Jmp began coverage on shares of FOX (NASDAQ:FOXA) in a research note released on Monday morning, Marketbeat reports. The brokerage issued a market outperform rating and a $95.00 target price on the stock.

A number of other research firms have also recently commented on FOXA. Zacks Research cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Wolfe Research upgraded shares of FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 price objective on the stock in a research report on Tuesday, June 30th. Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective on shares of FOX in a report on Tuesday, August 25th. Rothschild & Co Redburn set a $71.00 price objective on shares of FOX and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Weiss Ratings lowered shares of FOX from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.35.

FOX Stock Performance

Shares of FOXA opened at $66.16 on Monday. FOX has a 12-month low of $48.34 and a 12-month high of $76.39. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. The company 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 stock has a 50-day moving average price of $62.72 and a 200-day moving average price of $61.15.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.35. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. FOX’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 earnings per share. As a group, equities analysts forecast that FOX will post 5.94 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a yield of 86.0%. FOX’s dividend payout ratio is currently 15.14%.

Insider Buying and Selling

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were purchased at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the purchase, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. The trade was a 11.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 19.68% of the stock is owned by insiders.

Institutional Investors Weigh In On FOX

A number of institutional investors have recently made changes to their positions in FOXA. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of FOX by 9.9% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 287,000 shares of the company’s stock valued at $16,755,000 after purchasing an additional 25,900 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of FOX by 85.3% in the fourth quarter. Handelsbanken Fonder AB now owns 88,009 shares of the company’s stock worth $6,431,000 after purchasing an additional 40,515 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of FOX by 0.5% in the fourth 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 period. Andra AP fonden increased its position in shares of FOX by 208.1% in the first 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 increased its holdings 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 purchasing an additional 24,511 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

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.