FOX (NASDAQ:FOXA) Price Target Raised to $49.00 at JPMorgan Chase & Co.

FOX (NASDAQ:FOXA) had its target price boosted by JPMorgan Chase & Co. from $42.00 to $49.00 in a research note issued to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts have also recently commented on the company. Loop Capital boosted their target price on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com cut FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Evercore ISI raised FOX to a “hold” rating in a report on Tuesday, November 5th. Finally, Barclays upped their price target on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.00.

FOX Trading Up 1.3 %

Shares of FOXA stock opened at $48.82 on Tuesday. The firm has a market capitalization of $22.30 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.21 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. FOX has a 1 year low of $28.28 and a 1 year high of $50.63. The stock has a fifty day moving average of $47.51 and a two-hundred day moving average of $42.45.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. As a group, research analysts expect that FOX will post 3.94 EPS for the current year.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock worth $20,822,072 over the last quarter. Corporate insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of hedge funds have recently modified their holdings of FOXA. Quest Partners LLC purchased a new position in FOX in the third quarter valued at about $51,000. Quarry LP acquired a new stake in shares of FOX during the 3rd quarter valued at about $70,000. Versant Capital Management Inc lifted its holdings in shares of FOX by 3,551.1% during the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after buying an additional 1,669 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new position in FOX in the third quarter worth approximately $119,000. Finally, Exchange Traded Concepts LLC bought a new position in FOX during the third quarter valued at approximately $141,000. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

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.