FOX (NASDAQ:FOXA) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Fox Corporation (NASDAQ:FOXA) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $64.40 and traded as low as $57.13. FOX shares last traded at $57.28, with a volume of 3,103,758 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FOXA. Barclays dropped their target price on shares of FOX from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Wells Fargo & Company downgraded shares of FOX from an “overweight” rating to a “hold” rating in a report on Thursday, February 5th. The Goldman Sachs Group restated a “buy” rating and issued a $80.00 price target on shares of FOX in a research report on Wednesday, February 4th. Argus upgraded shares of FOX to a “hold” rating in a report on Thursday, February 19th. Finally, TD Cowen upped their price objective on shares of FOX from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.80.

FOX Stock Down 0.9%

The firm has a market capitalization of $24.37 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 7.12 and a beta of 0.55. The business has a 50 day moving average of $62.87 and a 200 day moving average of $64.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.35. The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.02 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 earnings per share. On average, equities analysts anticipate that Fox Corporation will post 4.38 EPS for the current year.

FOX Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.28 per share. This represents a dividend yield of 83.0%. The ex-dividend date is Wednesday, March 4th. FOX’s payout ratio is 13.46%.

Insider Transactions at FOX

In other news, COO John Nallen sold 216,806 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $57.68, for a total value of $12,505,370.08. Following the sale, the chief operating officer directly owned 362,206 shares in the company, valued at approximately $20,892,042.08. This represents a 37.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the transaction, the chief executive officer directly owned 152 shares of the company’s stock, valued at approximately $8,846.40. The trade was a 99.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,586,871 shares of company stock worth $91,893,926. 19.68% of the stock is currently owned by insiders.

Institutional Trading of FOX

Institutional investors have recently bought and sold shares of the stock. Winnow Wealth LLC bought a new stake in shares of FOX in the 3rd quarter worth about $1,238,000. Bank of New York Mellon Corp lifted its holdings in FOX by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,924,975 shares of the company’s stock valued at $121,389,000 after purchasing an additional 16,757 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in FOX by 23.0% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 150,522 shares of the company’s stock valued at $9,492,000 after buying an additional 28,118 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in FOX by 9.3% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 662,247 shares of the company’s stock valued at $41,761,000 after buying an additional 56,234 shares in the last quarter. Finally, Andra AP fonden grew its stake in FOX by 2.6% during the third quarter. Andra AP fonden now owns 944,500 shares of the company’s stock worth $59,560,000 after buying an additional 23,700 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.