Fox Co. (NASDAQ:FOXA) Receives Average Rating of “Hold” from Analysts

Fox Co. (NASDAQ:FOXA) has been given an average rating of “Hold” by the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $35.38.

FOXA has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, May 13th. Macquarie lifted their price objective on shares of FOX from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of FOX from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $42.00 price target on shares of FOX in a research report on Monday, July 1st.

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the transaction, the chairman now owns 1,408,862 shares in the company, valued at $43,519,747.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Steven Tomsic sold 30,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the completion of the sale, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the sale, the chairman now directly owns 1,408,862 shares of the company’s stock, valued at $43,519,747.18. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of large investors have recently made changes to their positions in FOXA. Norges Bank purchased a new stake in shares of FOX during the fourth quarter valued at $68,391,000. KBC Group NV boosted its stake in shares of FOX by 453.0% during the fourth quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock valued at $60,225,000 after purchasing an additional 1,662,748 shares during the period. Vanguard Group Inc. boosted its stake in shares of FOX by 5.9% during the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after purchasing an additional 1,653,913 shares during the period. TD Asset Management Inc boosted its stake in shares of FOX by 128.0% during the fourth quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock valued at $68,068,000 after purchasing an additional 1,287,911 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in FOX by 1,727.2% in the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after acquiring an additional 912,250 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $37.07 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. FOX has a 1-year low of $28.28 and a 1-year high of $37.95. The company has a market capitalization of $17.30 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.26 and a beta of 0.77. The firm’s 50 day simple moving average is $34.60 and its two-hundred day simple moving average is $32.16.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Wednesday, May 8th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.11. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.44 billion. FOX had a net margin of 11.19% and a return on equity of 15.90%. Research analysts expect that FOX will post 3.35 EPS for the current fiscal year.

FOX Company Profile

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.