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Fox Corporation (FOX) – Don’t Believe the Hype: Check The Facts

538 institutions hold shares in Fox Corporation (FOX), with 239M shares held by insiders accounting for 40.47% while institutional investors hold 97.86% of the company’s shares. The shares outstanding are 586.91M, and float is at 480.74M with Short Float at 0.38%. Institutions hold 58.25% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 18.11 million shares valued at $522.91 million. The investor’s holdings represent 7.07% of the FOX Shares outstanding. As of Dec 30, 2020, the second largest holder is Price (T.Rowe) Associates Inc with 12.77 million shares valued at $368.73 million to account for 4.98% of the shares outstanding. The other top investors are Blackrock Inc. which holds 11.39 million shares representing 4.45% and valued at over $329.08 million, while Dodge & Cox Inc holds 4.01% of the shares totaling 10.27 million with a market value of $296.5 million.

Fox Corporation (NASDAQ: FOX) is 27.70% higher on its value in year-to-date trading and has touched a low of $23.36 and a high of $42.14 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FOX stock was last observed hovering at around $37.25 in the last trading session, with the day’s loss setting it -0.37% off its average median price target of $40.00 for the next 12 months. It is also 31.7% off the consensus price target high of $54.00 offered by 26 analysts, but current levels are -27.17% lower than the price target low of $29.00 for the same period.

Currently trading at $36.88, the stock is 1.63% and 1.12% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.77 million and changing -0.99% at the moment leaves the stock 23.15% off its SMA200. FOX registered 36.74% gain for a year compared to 6-month gain of 40.87%. The firm has a 50-day simple moving average (SMA 50) of $37.52 and a 200-day simple moving average (SMA200) of $31.40.

The stock witnessed a 2.96% loss in the last 1 month and extending the period to 3 months gives it a 13.58%, and is -1.28% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.89% over the week and 2.51% over the month.

Fox Corporation (FOX) has around 9000 employees, a market worth around $21.65B and $12.66B in sales. Current P/E ratio is 14.59 and Fwd P/E is 15.69. Distance from 52-week low is 57.88% and -12.48% from its 52-week high.

Fox Corporation (FOX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Fox Corporation (FOX) is a “Overweight”. 26 analysts offering their recommendations for the stock, where 13 rate it as a Hold and 0 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Fox Corporation is expected to release its quarterly report on 08/11/2021 and quarterly earnings per share for the current quarter are estimated at $0.49 with sales reaching $7.84B over the same period., but quarterly earnings will post 3.40% year-over-year. Quarterly sales are estimated to grow 5.70% in year-over-year returns.

Fox Corporation (FOX) Insider Activity

A total of 0 insider transactions have happened at Fox Corporation (FOX) in the last six months, with sales accounting for 0 and purchases happening 0 times. The most recent transaction is an insider purchase by MURDOCH KEITH RUPERT, the company’s Chairman. SEC filings show that MURDOCH KEITH RUPERT bought 500,000 shares of the company’s common stock on Mar 12 at a price of $42.77 per share for a total of $21.38 million. Following the purchase, the insider now owns 1.93 million shares.

Fox Corporation disclosed in a document filed with the SEC on Sep 14 that DINH VIET D (Chief Legal and Policy Officer) sold a total of 70,000 shares of the company’s common stock. The trade occurred on Sep 14 and was made at $28.71 per share for $2.01 million. Following the transaction, the insider now directly holds 7510.0 shares of the FOX stock.

Still, SEC filings show that on Aug 17, NALLEN JOHN (Chief Operating Officer) disposed off 100,000 shares at an average price of $25.49 for $2.55 million. The insider now directly holds 127,797 shares of Fox Corporation (FOX).

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