Insider Buying: Fox Corp (NASDAQ:FOX) Director Acquires 3,000 Shares of Stock

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Fox Corp (NASDAQ:FOX) Director Roland A. Hernandez acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $34.91 per share, with a total value of $104,730.00. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

FOX stock traded up $0.19 during midday trading on Tuesday, reaching $35.00. 1,716,100 shares of the company were exchanged, compared to its average volume of 1,994,559. The firm has a market capitalization of $21.92 billion and a P/E ratio of 13.31. The company’s 50-day moving average is $36.39. Fox Corp has a 1 year low of $33.32 and a 1 year high of $41.73. The company has a quick ratio of 3.12, a current ratio of 3.78 and a debt-to-equity ratio of 0.68.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 4th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from FOX’s previous quarterly dividend of $0.18. FOX’s dividend payout ratio (DPR) is currently 17.49%.

A number of research firms recently commented on FOX. Zacks Investment Research cut FOX from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Goldman Sachs Group began coverage on FOX in a research report on Wednesday, June 26th. They set a “buy” rating and a $46.00 price objective for the company. Finally, BidaskClub upgraded FOX from a “sell” rating to a “hold” rating in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $42.67.

An institutional investor recently raised its position in FOX stock. Geode Capital Management LLC grew its position in Fox Corp (NASDAQ:FOX) by 11.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,711,543 shares of the company’s stock after purchasing an additional 700,231 shares during the period. Geode Capital Management LLC owned approximately 0.36% of FOX worth $320,130,000 as of its most recent SEC filing. 22.52% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.

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