On March 31, 2023 at 12:00:44 ET an unusually large $146.55K block of Call contracts in Fox Corporation (FOXA) was sold, with a strike price of $35.00 / share, expiring in 35 days (on May 5, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.44 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in FOXA options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 16.27% Upside
As of March 30, 2023, the average one-year price target for Fox Corporation is $39.15. The forecasts range from a low of $29.29 to a high of $47.25. The average price target represents an increase of 16.27% from its latest reported closing price of $33.67.
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The projected annual revenue for Fox Corporation is $15,270MM, an increase of 6.90%. The projected annual non-GAAP EPS is $3.61.
What is the Fund Sentiment?
There are 1210 funds or institutions reporting positions in Fox Corporation. This is an increase of 25 owner(s) or 2.11% in the last quarter. Average portfolio weight of all funds dedicated to FOXA is 0.20%, an increase of 0.59%. Total shares owned by institutions decreased in the last three months by 2.06% to 363,923K shares. The put/call ratio of FOXA is 0.41, indicating a bullish outlook.
What are Large Shareholders Doing?
Dodge & Cox holds 40,067K shares representing 7.50% ownership of the company. In it’s prior filing, the firm reported owning 42,494K shares, representing a decrease of 6.06%. The firm decreased its portfolio allocation in FOXA by 15.53% over the last quarter.
DODGX – Dodge & Cox Stock Fund holds 27,659K shares representing 5.17% ownership of the company. In it’s prior filing, the firm reported owning 29,108K shares, representing a decrease of 5.24%. The firm decreased its portfolio allocation in FOXA by 15.68% over the last quarter.
Independent Franchise Partners LLP holds 19,026K shares representing 3.56% ownership of the company. In it’s prior filing, the firm reported owning 19,382K shares, representing a decrease of 1.87%. The firm decreased its portfolio allocation in FOXA by 99.91% over the last quarter.
Ninety One UK holds 11,781K shares representing 2.20% ownership of the company. In it’s prior filing, the firm reported owning 12,016K shares, representing a decrease of 1.99%. The firm decreased its portfolio allocation in FOXA by 5.67% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,898K shares representing 1.66% ownership of the company. In it’s prior filing, the firm reported owning 8,850K shares, representing an increase of 0.54%. The firm decreased its portfolio allocation in FOXA by 8.09% over the last quarter.
Fox Corporation Declares $0.25 Dividend
On February 8, 2023 the company declared a regular semi-annual dividend of $0.25 per share ($0.50 annualized). Shareholders of record as of March 1, 2023 received the payment on March 29, 2023. Previously, the company paid $0.25 per share.
At the current share price of $33.67 / share, the stock’s dividend yield is 1.49%. Looking back five years and taking a sample every week, the average dividend yield has been 1.42%, the lowest has been 1.05%, and the highest has been 2.28%. The standard deviation of yields is 0.21 (n=191).
The current dividend yield is 0.30 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.18. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.09%, demonstrating that it has increased its dividend over time.
Fox Background Information
(This description is provided by the company.)
Fox Corporation produces and distributes compelling news, sports and entertainment content through its iconic domestic brands including: FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of its footprint allows them to deliver content that engages and informs audiences, develop deeper consumer relationships and create more compelling product offerings. FOX maintains an impressive track record of news, sports, and entertainment industry success that shapes its strategy to capitalize on existing strengths and invest in new initiatives.
This article originally appeared on Fintel
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