Today, Zacks Investment Research Lowers Twenty-First Century Fox Inc. (FOX) to Sell

Today, Zacks Investment Research Lowers Twenty-First Century Fox Inc. (FOX) to Sell

Zacks Investment Research cut shares of Twenty-First Century Fox Inc. (NASDAQ:FOX) from a hold rating to a sell rating in a research report sent to investors on Thursday.

According to Zacks, “Twenty-First Century Fox, Inc. is involved in creating and distributing media services. Its business portfolio consists of cable, broadcast, film, pay TV and satellite assets. Twenty-First Century Fox, Inc., formerly known as News Corporation, is based in New York, United States. “

FOX has been the subject of a number of other research reports. Wedbush reaffirmed an outperform rating and set a $33.00 target price (down previously from $34.00) on shares of Twenty-First Century Fox in a report on Thursday, August 4th. Pivotal Research reaffirmed a buy rating and set a $34.00 target price (down previously from $36.00) on shares of Twenty-First Century Fox in a report on Thursday, August 4th. RBC Capital Markets reaffirmed an outperform rating and set a $32.00 target price (down previously from $36.00) on shares of Twenty-First Century Fox in a report on Thursday, August 4th. TheStreet downgraded Twenty-First Century Fox from a buy rating to a hold rating in a report on Wednesday, August 3rd. Finally, Credit Suisse Group AG reissued an outperform rating and issued a $33.00 price target (down from $38.00) on shares of Twenty-First Century Fox in a report on Saturday, August 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $32.44.

Shares of Twenty-First Century Fox (NASDAQ:FOX) opened at 24.79 on Thursday. The stock has a market capitalization of $46.17 billion, a price-to-earnings ratio of 17.51 and a beta of 1.30. The company has a 50-day moving average of $24.68 and a 200 day moving average of $27.42. Twenty-First Century Fox has a 12-month low of $22.65 and a 12-month high of $31.58.

The business also recently announced a dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Wednesday, September 14th will be issued a $0.18 dividend. The ex-dividend date is Monday, September 12th. Twenty-First Century Fox’s payout ratio is currently 25.35%.

In related news, insider Jeffrey W. Ubben bought 3,000,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was bought at an average cost of $26.06 per share, for a total transaction of $78,180,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 39.40% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of FOX. Commonwealth Equity Services Inc boosted its position in Twenty-First Century Fox by 21.0% in the first quarter. Commonwealth Equity Services Inc now owns 13,818 shares of the company’s stock worth $390,000 after buying an additional 2,394 shares in the last quarter. Aperio Group LLC boosted its position in Twenty-First Century Fox by 1.3% in the first quarter. Aperio Group LLC now owns 29,332 shares of the company’s stock worth $827,000 after buying an additional 371 shares in the last quarter. Ngam Advisors L.P. boosted its position in Twenty-First Century Fox by 8.9% in the first quarter. Ngam Advisors L.P. now owns 55,039 shares of the company’s stock worth $1,552,000 after buying an additional 4,500 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in Twenty-First Century Fox by 9.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,485,261 shares of the company’s stock worth $41,884,000 after buying an additional 133,545 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its position in Twenty-First Century Fox by 6.5% in the first quarter. Teachers Advisors Inc. now owns 493,439 shares of the company’s stock worth $13,915,000 after buying an additional 30,286 shares in the last quarter. Institutional investors own 21.69% of the company’s stock.

Twenty-First Century Fox Company Profile

Twenty-First Century Fox, Inc is a media and entertainment company. The Company operates through segments: Cable Network Programming, Television, Filmed Entertainment, and Other, Corporate and Eliminations. The Company produces and licenses news, business news, sports, general entertainment, factual entertainment and movie programming for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies and online video distributors in the United States and internationally.

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