FOX Target of Unusually High Options Trading (NASDAQ:FOXA)

Fox Co. (NASDAQ:FOXA) was the target of unusually large options trading on Monday. Investors purchased 16,602 call options on the stock. This represents an increase of 900% compared to the average daily volume of 1,660 call options.

FOX Stock Performance

FOXA stock traded up $0.34 during trading on Monday, reaching $31.55. 911,355 shares of the stock were exchanged, compared to its average volume of 3,314,414. FOX has a twelve month low of $28.28 and a twelve month high of $35.40. The company has a market capitalization of $14.98 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 0.42 and a beta of 0.78. The stock has a 50 day simple moving average of $30.33 and a 200-day simple moving average of $30.40. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70.

FOX (NASDAQ:FOXA) last released its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period last year, the business earned $0.48 earnings per share. As a group, sell-side analysts anticipate that FOX will post 3.18 earnings per share for the current year.

FOX Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.26 per share. This represents a yield of 1.8%. The ex-dividend date was Tuesday, March 5th. FOX’s payout ratio is 30.77%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FOXA shares. Wells Fargo & Company cut their price objective on FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Rosenblatt Securities restated a “neutral” rating and set a $34.00 target price on shares of FOX in a report on Monday, April 15th. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. TheStreet lowered FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Finally, Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, FOX presently has an average rating of “Hold” and a consensus target price of $33.40.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Empirical Finance LLC raised its position in FOX by 3.8% in the 3rd quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock worth $319,000 after purchasing an additional 372 shares during the last quarter. Deane Retirement Strategies Inc. bought a new position in FOX in the 4th quarter worth approximately $2,752,000. Federated Hermes Inc. raised its position in FOX by 3.9% in the 3rd quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock worth $1,059,000 after purchasing an additional 1,271 shares during the last quarter. AustralianSuper Pty Ltd raised its position in FOX by 66.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company’s stock worth $46,935,000 after purchasing an additional 632,522 shares during the last quarter. Finally, Duality Advisers LP raised its position in FOX by 273.1% in the 3rd quarter. Duality Advisers LP now owns 49,233 shares of the company’s stock worth $1,536,000 after purchasing an additional 36,038 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

About FOX

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 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.