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

Shares of Fox Co. (NASDAQ:FOXA) have earned an average recommendation of “Hold” from the eighteen analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $44.00.

Several research analysts recently weighed in on the stock. Guggenheim upped their target price on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their price objective on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Bank of America lifted their target price on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Loop Capital boosted their target price on shares of FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th.

FOX Stock Up 0.9 %

NASDAQ FOXA opened at $47.12 on Friday. FOX has a 52 week low of $28.28 and a 52 week high of $47.58. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $21.52 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. The stock’s 50-day moving average price is $43.50 and its 200-day moving average price is $39.10.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 EPS. On average, equities research analysts predict that FOX will post 3.94 earnings per share for the current year.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock worth $20,822,072 over the last 90 days. Company insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of hedge funds have recently added to or reduced their stakes in FOXA. Bessemer Group Inc. raised its stake in FOX by 11.0% in the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock worth $103,000 after buying an additional 326 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of FOX by 1.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock worth $991,000 after acquiring an additional 385 shares in the last quarter. Raymond James Trust N.A. lifted its stake in shares of FOX by 4.4% during the 2nd quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock worth $333,000 after purchasing an additional 406 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in FOX by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock valued at $1,249,000 after purchasing an additional 451 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in FOX by 0.9% in the second quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company’s stock valued at $1,695,000 after purchasing an additional 453 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.