FOX (NASDAQ:FOXA) Reaches New 12-Month Low at $31.19

Fox Co. (NASDAQ:FOXAGet Rating) shares hit a new 52-week low on Friday . The company traded as low as $31.19 and last traded at $31.34, with a volume of 25525 shares trading hands. The stock had previously closed at $32.11.

Analysts Set New Price Targets

FOXA has been the subject of a number of recent analyst reports. Rosenblatt Securities lifted their price target on shares of FOX from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Morgan Stanley lowered shares of FOX from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $45.00 to $38.00 in a research note on Monday, July 18th. Evercore ISI lowered their price objective on shares of FOX from $44.00 to $38.00 in a research note on Wednesday, July 27th. Credit Suisse Group lowered their price objective on shares of FOX to $46.00 in a research note on Monday, August 15th. Finally, The Goldman Sachs Group lowered their price objective on shares of FOX from $32.00 to $30.00 and set a “sell” rating for the company in a research note on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.90.

FOX Stock Down 2.1 %

The business’s 50 day moving average is $34.32 and its 200-day moving average is $35.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.61 and a quick ratio of 3.26. The company has a market cap of $17.25 billion, a PE ratio of 14.82, a P/E/G ratio of 0.59 and a beta of 0.87.

FOX (NASDAQ:FOXAGet Rating) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). FOX had a return on equity of 14.05% and a net margin of 8.62%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, analysts predict that Fox Co. will post 3.68 EPS for the current year.

FOX Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 30th. This represents a yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.24. FOX’s dividend payout ratio (DPR) is presently 23.70%.

Hedge Funds Weigh In On FOX

A number of institutional investors have recently modified their holdings of the business. Private Trust Co. NA acquired a new position in shares of FOX in the 2nd quarter valued at $40,000. Amundi increased its holdings in shares of FOX by 71.6% in the 2nd quarter. Amundi now owns 956,708 shares of the company’s stock valued at $31,103,000 after acquiring an additional 399,253 shares during the period. M&G Investment Management Ltd. increased its holdings in shares of FOX by 42.2% in the 2nd quarter. M&G Investment Management Ltd. now owns 11,455 shares of the company’s stock valued at $367,000 after acquiring an additional 3,401 shares during the period. ExodusPoint Capital Management LP increased its stake in FOX by 695.4% in the 2nd quarter. ExodusPoint Capital Management LP now owns 238,632 shares of the company’s stock valued at $7,674,000 after buying an additional 208,632 shares during the period. Finally, National Pension Service increased its stake in FOX by 14.6% in the 2nd quarter. National Pension Service now owns 57,593 shares of the company’s stock valued at $1,852,000 after buying an additional 7,343 shares during the period. 56.49% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

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Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S.

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