FOX (NASDAQ:FOXA) Chairman Sells $11,132,833.32 in Stock

Fox Corporation (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 168,756 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $65.97, for a total transaction of $11,132,833.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

FOX Stock Up 0.4%

FOXA opened at $65.97 on Monday. Fox Corporation has a 12 month low of $44.15 and a 12 month high of $66.64. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $60.63 and its 200-day moving average price is $57.07. The company has a market cap of $29.29 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.48 and a beta of 0.52.

FOX (NASDAQ:FOXA) last issued its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.41. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.57 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%.FOX’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 EPS. On average, equities analysts expect that Fox Corporation will post 4.38 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $79.00 target price on shares of FOX in a research note on Thursday, October 30th. Wells Fargo & Company boosted their price objective on shares of FOX from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Arete Research upgraded shares of FOX to a “strong-buy” rating in a report on Tuesday, October 28th. Evercore ISI raised their target price on FOX from $55.00 to $66.00 and gave the stock an “in-line” rating in a research note on Friday, October 31st. Finally, Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, FOX presently has an average rating of “Moderate Buy” and a consensus target price of $69.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FOXA. Vanguard Group Inc. lifted its stake in shares of FOX by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 25,739,628 shares of the company’s stock valued at $1,456,863,000 after purchasing an additional 518,835 shares during the period. Invesco Ltd. raised its holdings in FOX by 3.0% in the first quarter. Invesco Ltd. now owns 3,680,293 shares of the company’s stock worth $208,305,000 after purchasing an additional 107,687 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in FOX by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,709,021 shares of the company’s stock valued at $153,331,000 after buying an additional 32,144 shares during the period. AustralianSuper Pty Ltd boosted its holdings in shares of FOX by 8.8% during the 1st quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company’s stock valued at $149,218,000 after buying an additional 212,348 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of FOX by 752.1% during the 1st quarter. Assetmark Inc. now owns 1,951,657 shares of the company’s stock valued at $110,464,000 after buying an additional 1,722,616 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.