FOX (NASDAQ:FOX) CEO Lachlan Murdoch Buys 149,934 Shares

Fox Corporation (NASDAQ:FOX) CEO Lachlan Murdoch acquired 149,934 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the purchase, the chief executive officer owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This trade represents a 11.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

FOX Trading Down 2.0%

Shares of NASDAQ:FOX opened at $59.15 on Thursday. The firm has a fifty day moving average of $56.02 and a two-hundred day moving average of $54.91. The firm has a market capitalization of $24.82 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 1.63 and a beta of 0.58. Fox Corporation has a 12-month low of $44.08 and a 12-month high of $68.18. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.64 billion. On average, equities analysts expect that Fox Corporation will post 5.99 EPS for the current fiscal year.

FOX Announces Dividend

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 is Wednesday, September 2nd. This represents a yield of 96.0%. FOX’s payout ratio is 15.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup assumed coverage on FOX in a research note on Monday. They set an “outperform” rating for the company. Wolfe Research set a $93.00 price target on FOX in a research note on Thursday, August 20th. Zacks Research downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Friday, August 28th. Seaport Research Partners lowered shares of FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Rothschild & Co Redburn set a $71.00 target price on shares of FOX in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.67.

Hedge Funds Weigh In On FOX

Institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC boosted its stake in shares of FOX by 4.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,644 shares of the company’s stock worth $311,000 after acquiring an additional 254 shares in the last quarter. National Pension Service raised its stake in shares of FOX by 56.2% in the 2nd quarter. National Pension Service now owns 56,048 shares of the company’s stock valued at $2,625,000 after acquiring an additional 20,157 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of FOX by 1,257.1% in the 2nd quarter. Engineers Gate Manager LP now owns 75,018 shares of the company’s stock valued at $3,514,000 after acquiring an additional 69,490 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in FOX in the 2nd quarter worth approximately $70,000. Finally, Squarepoint Ops LLC acquired a new stake in FOX in the 2nd quarter worth approximately $310,000. 26.41% of the stock is currently owned by institutional investors.

FOX Company Profile

Fox Corporation (NASDAQ: FOX) is a U.S.-based media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. FOX retained a portfolio focused on news, sports, broadcast television and digital streaming.

The company’s principal businesses include Fox News Media, which operates Fox News Channel, Fox Business Network and related digital platforms; Fox Sports, which provides national and regional sports programming; and Fox Entertainment, which develops and distributes scripted and unscripted television content.