FOX (NASDAQ:FOXA) Stock Rating Reaffirmed by Cfra

Cfra restated their sell rating on shares of FOX (NASDAQ:FOXA) in a research note issued to investors on Wednesday morning, Benzinga reports.

A number of other brokerages have also recently issued reports on FOXA. Macquarie upped their target price on shares of FOX from $32.00 to $35.00 and gave the company a neutral rating in a report on Monday, August 12th. Wells Fargo & Company raised shares of FOX from an underweight rating to an overweight rating and upped their target price for the company from $29.00 to $46.00 in a report on Friday, August 16th. Guggenheim upped their target price on shares of FOX from $44.00 to $45.00 and gave the company a buy rating in a report on Tuesday, September 24th. Evercore ISI upped their target price on shares of FOX from $33.00 to $38.00 and gave the company an in-line rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of FOX from $39.00 to $42.00 and gave the company a buy rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $39.64.

FOX Trading Down 0.1 %

Shares of NASDAQ:FOXA opened at $42.27 on Wednesday. The company’s 50-day moving average price is $39.70 and its two-hundred day moving average price is $35.18. 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 has a one year low of $28.28 and a one year high of $42.63. The stock has a market capitalization of $19.73 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76.

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

FOX Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Investors 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. The ex-dividend date was Wednesday, September 4th. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio (DPR) is currently 16.93%.

Insider Buying and Selling

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

Institutional Trading of FOX

Hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of FOX by 31.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock valued at $15,523,000 after acquiring an additional 117,458 shares during the last quarter. Jane Street Group LLC raised its stake in shares of FOX by 25.2% during the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after acquiring an additional 28,072 shares during the last quarter. Scout Investments Inc. raised its stake in shares of FOX by 102.0% during the fourth quarter. Scout Investments Inc. now owns 209,871 shares of the company’s stock valued at $6,227,000 after acquiring an additional 105,960 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of FOX by 99.9% during the fourth quarter. Hsbc Holdings PLC now owns 652,921 shares of the company’s stock valued at $19,339,000 after acquiring an additional 326,254 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its stake in shares of FOX by 565.6% during the first quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock valued at $745,000 after acquiring an additional 20,250 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

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.