Keith Rupert Murdoch Sells 100,000 Shares of FOX (NASDAQ:FOX) Stock

Fox Corporation (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $59.26, for a total value of $5,926,000.00. Following the sale, the chairman directly owned 1,100,862 shares in the company, valued at approximately $65,237,082.12. The trade was a 8.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Keith Rupert Murdoch also recently made the following trade(s):

• On Friday, November 7th, Keith Rupert Murdoch sold 168,756 shares of FOX stock. The stock was sold at an average price of $65.97, for a total transaction of $11,132,833.32.

FOX Stock Up 0.3%

FOX stock opened at $58.12 on Thursday. The business’s 50-day simple moving average is $55.86 and its two-hundred day simple moving average is $53.16. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24. The company has a market cap of $25.80 billion, a PE ratio of 13.06, a PEG ratio of 1.28 and a beta of 0.57. Fox Corporation has a fifty-two week low of $43.18 and a fifty-two week high of $60.73.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.45. FOX had a return on equity of 18.61% and a net margin of 12.35%.The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Equities analysts anticipate that Fox Corporation will post 4.25 EPS for the current year.

Hedge Funds Weigh In On FOX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its position in shares of FOX by 25.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,513 shares of the company’s stock worth $3,753,000 after purchasing an additional 13,231 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in FOX by 27.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 114,626 shares of the company’s stock worth $6,567,000 after buying an additional 24,982 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of FOX by 3.7% during the 3rd quarter. California State Teachers Retirement System now owns 175,174 shares of the company’s stock worth $10,036,000 after acquiring an additional 6,275 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of FOX by 336.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after acquiring an additional 475 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of FOX by 792.4% in the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock valued at $182,448,000 after acquiring an additional 2,827,768 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on FOX shares. Cfra reiterated a “buy” rating and issued a $73.00 price objective on shares of FOX in a report on Monday, November 3rd. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. UBS Group reissued a “buy” rating on shares of FOX in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b+)” rating on shares of FOX in a report on Thursday, November 20th. Finally, Fox Advisors set a $97.00 price target on FOX in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $81.67.

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.