Fox Co. (NASDAQ:FOXA) Short Interest Update

Fox Co. (NASDAQ:FOXA) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 16,970,000 shares, a drop of 20.9% from the February 13th total of 21,460,000 shares. Based on an average daily volume of 3,900,000 shares, the days-to-cover ratio is presently 4.4 days. Currently, 7.9% of the company’s stock are sold short.

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FOXA. WealthTrak Capital Management LLC acquired a new position in shares of FOX during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. boosted its position in shares of FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after acquiring an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of FOX during the 4th quarter worth about $28,000. Jones Financial Companies Lllp boosted its position in shares of FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after acquiring an additional 249 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after acquiring an additional 368 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FOXA has been the subject of a number of research analyst reports. Bank of America increased their price target on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Barclays increased their price target on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and increased their price target for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Guggenheim raised their price objective on FOX from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.19.

FOX Trading Up 0.1 %

NASDAQ:FOXA traded up $0.04 on Monday, reaching $52.32. The company’s stock had a trading volume of 639,244 shares, compared to its average volume of 3,817,802. FOX has a 12-month low of $29.34 and a 12-month high of $58.74. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a market cap of $23.72 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The stock has a 50 day moving average price of $52.67 and a 200 day moving average price of $47.17.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 EPS. On average, equities analysts anticipate that FOX will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a yield of 1%. FOX’s payout ratio is 11.56%.

FOX Company Profile

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.