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The Time To Buy Fox Corporation (NASDAQ: FOX) Is Now

During the recent session, Fox Corporation (NASDAQ:FOX)’s traded shares were 0.81 million. At the last check today, the stock’s price was $28.80, reflecting an intraday gain of 0.52% or $0.15. The 52-week high for the FOX share is $34.42, that puts it down -19.51 from that peak though still a striking 8.51% gain since the share price plummeted to a 52-week low of $26.35. The company’s market capitalization is $15.10B, and the average intraday trading volume over the past 10 days was 1.05 million shares, and the average trade volume was 1.12 million shares over the past three months.

Fox Corporation (NASDAQ:FOX) trade information

Fox Corporation (FOX) registered a 0.52% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.52% in intraday trading to $28.80 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 0.35%, and it has moved by -3.13% in 30 days. Based on these gigs, the overall price performance for the year is -4.00%. The short interest in Fox Corporation (NASDAQ:FOX) is 2.33 million shares and it means that shorts have 1.89 day(s) to cover.

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The consensus price target of analysts on Wall Street is $36.05, which implies an increase of 20.11% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $28.00 and $44.00 respectively. As a result, FOX is trading at a discount of -52.78% off the target high and 2.78% off the low.

Fox Corporation (FOX) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -9.30% this quarter and then jump 55.60% in the quarter after that. In the rating firms’ projections, revenue will increase 3.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $7.84 billion as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $8.37 billion by the end of Jun 2019. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $7.42 billion and $7.94 billion respectively. In this case, analysts expect current quarter sales to grow by 5.70% and then jump by 5.50% in the coming quarter.

FOX Dividends

Fox Corporation is due to release its next quarterly earnings in June. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Fox Corporation is 0.50, with the dividend yield indicating at 1.75 percent, continuing the trend of increasing dividends in recent years.

Fox Corporation (NASDAQ:FOX)’s Major holders

Fox Corporation insiders own 43.16% of total outstanding shares while institutional holders control 53.26%, with the float percentage being 93.70%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 557 institutions own stock in it. As of Mar 30, 2023, the company held over 16.33 million shares (or 6.93% of all shares), a total value of $511.33 million in shares.

The next largest institutional holding, with 11.67 million shares, is of Dodge & Cox Inc’s that is approximately 4.95% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $365.38 million.

Also, the Mutual Funds coming in first place with the largest holdings of Fox Corporation (FOX) shares are Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund. Data provided on Dec 30, 2022 indicates that Dodge & Cox Stock Fund owns about 8.42 million shares. This amounts to just over 3.54 percent of the company’s overall shares, with a $239.53 million market value. The same data shows that the other fund manager holds slightly less at 4.33 million, or about 1.82% of the stock, which is worth about $123.22 million.

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