FOX (NASDAQ:FOXA) Chairman Keith Rupert Murdoch Sells 168,756 Shares

Fox Corporation (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 168,756 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $65.97, for a total value of $11,132,833.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

FOX Trading Up 0.4%

FOXA opened at $65.97 on Friday. The business has a fifty day moving average price of $60.63 and a 200 day moving average price of $56.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03. Fox Corporation has a 12 month low of $44.15 and a 12 month high of $66.64. The stock has a market capitalization of $29.39 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.47 and a beta of 0.52.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.41. FOX had a return on equity of 18.61% and a net margin of 12.35%.The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the company earned $1.45 EPS. FOX’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FOXA. CWM LLC increased its position in FOX by 8.6% in the 1st quarter. CWM LLC now owns 6,663 shares of the company’s stock valued at $377,000 after acquiring an additional 527 shares during the period. Private Trust Co. NA grew its stake in shares of FOX by 86.5% in the 1st quarter. Private Trust Co. NA now owns 929 shares of the company’s stock valued at $53,000 after purchasing an additional 431 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of FOX in the first quarter valued at approximately $420,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of FOX by 246.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,009 shares of the company’s stock worth $4,132,000 after purchasing an additional 51,960 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of FOX by 26.5% during the first quarter. Royal Bank of Canada now owns 303,521 shares of the company’s stock worth $17,179,000 after purchasing an additional 63,538 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FOXA. Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 5th. Arete Research raised shares of FOX to a “strong-buy” rating in a research report on Tuesday, October 28th. Morgan Stanley set a $70.00 target price on shares of FOX in a research note on Friday, October 31st. Citigroup increased their target price on FOX from $62.00 to $68.00 and gave the company a “buy” rating in a report on Monday, October 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $79.00 price target on shares of FOX in a report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, FOX has a consensus rating of “Moderate Buy” and an average price target of $69.94.

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.