FOX (NASDAQ:FOX) Upgraded to Hold by Barclays

Barclays upgraded shares of FOX (NASDAQ:FOX) to a hold rating in a research note released on Wednesday, Zacks.com reports.

Separately, Seaport Res Ptn downgraded shares of FOX from a strong-buy rating to a hold rating in a report on Monday, September 9th.

FOX Stock Down 0.1 %

Shares of FOX opened at $38.00 on Wednesday. The business’s 50 day simple moving average is $37.55 and its 200-day simple moving average is $33.40. FOX has a 1 year low of $25.82 and a 1 year high of $39.15. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. FOX had a net margin of 10.74% and a return on equity of 15.57%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. As a group, equities analysts expect that FOX will post 3.59 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This is an increase from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 2.84%. FOX’s dividend payout ratio (DPR) is currently 16.93%.

Insider Buying and Selling at FOX

In related news, COO John Nallen sold 52,874 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.21% of the company’s stock.

Institutional Investors Weigh In On FOX

Several large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in FOX by 692.1% during the 2nd quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after purchasing an additional 1,232 shares in the last quarter. Friedenthal Financial purchased a new position in shares of FOX during the second quarter valued at $51,000. V Square Quantitative Management LLC raised its holdings in shares of FOX by 20.8% in the fourth quarter. V Square Quantitative Management LLC now owns 3,391 shares of the company’s stock valued at $94,000 after acquiring an additional 585 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in FOX in the first quarter worth about $97,000. Finally, GAMMA Investing LLC increased its position in FOX by 267.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock valued at $113,000 after purchasing an additional 2,569 shares during the period. 26.41% of the stock is owned by hedge funds and other institutional investors.

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.