FOX (NASDAQ:FOXA) Price Target Raised to $42.00

FOX (NASDAQ:FOXA) had its price target raised by JPMorgan Chase & Co. from $41.00 to $42.00 in a report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

FOXA has been the topic of a number of other research reports. 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. Loop Capital boosted their price target on shares of FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Evercore ISI raised their price objective on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research report on Wednesday, August 7th. Guggenheim boosted their target price on shares of FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Cfra reissued a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.00.

FOX Stock Performance

Shares of FOXA opened at $44.67 on Tuesday. The firm has a market capitalization of $20.56 billion, a PE ratio of 10.92, a P/E/G ratio of 1.95 and a beta of 0.76. 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 firm has a 50-day moving average price of $41.53 and a 200 day moving average price of $37.48. FOX has a 52-week low of $28.28 and a 52-week high of $45.82.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the business posted $1.09 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that FOX will post 3.7 earnings per share for the current fiscal year.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 335,355 shares of company stock valued at $14,244,865. Company insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in FOX by 5.9% in 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 in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of FOX by 1,727.2% during the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after buying an additional 912,250 shares during the last quarter. AXA S.A. grew its stake in shares of FOX by 294.2% in the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock valued at $30,537,000 after buying an additional 663,089 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in FOX by 3.3% in the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after buying an additional 597,450 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in FOX by 25.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock worth $83,208,000 after buying an additional 492,467 shares during the last quarter. 52.52% of the stock is currently 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.