FOX (NASDAQ:FOXA) Price Target Increased to $38.00 by Analysts at JPMorgan Chase & Co.

FOX (NASDAQ:FOXA) had its price objective lifted by JPMorgan Chase & Co. from $36.00 to $38.00 in a research note published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Macquarie boosted their price target on FOX from $30.00 to $32.00 and gave the company a neutral rating in a research note on Monday, May 13th. Barclays boosted their price target on FOX from $33.00 to $36.00 and gave the company an equal weight rating in a research note on Monday, May 13th. Deutsche Bank Aktiengesellschaft boosted their price target on FOX from $39.00 to $42.00 and gave the company a buy rating in a research note on Wednesday. Rosenblatt Securities boosted their price target on FOX from $37.00 to $38.00 and gave the company a neutral rating in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their price target on FOX from $42.00 to $44.00 and gave the stock a buy rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $36.62.

FOX Stock Up 0.1 %

FOX stock traded up $0.03 on Wednesday, hitting $39.33. 2,618,659 shares of the stock traded hands, compared to its average volume of 3,055,185. The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67. The firm has a market cap of $18.36 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.51 and a beta of 0.77. The business’s fifty day simple moving average is $35.64 and its 200 day simple moving average is $32.73. FOX has a 1 year low of $28.28 and a 1 year high of $39.81.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, sell-side analysts forecast that FOX will post 3.33 earnings per share for the current year.

FOX Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a $0.27 dividend. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a yield of 1.4%. FOX’s payout ratio is presently 16.30%.

Insiders Place Their Bets

In other news, CFO Steven Tomsic sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the transaction, the chief financial officer now owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was 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 of the company’s stock, valued at approximately $43,519,747.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Steven Tomsic sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the transaction, the chief financial officer now directly owns 110,568 shares in the company, valued at approximately $3,788,059.68. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Several hedge funds have recently bought and sold shares of the business. Edgestream Partners L.P. grew its position in FOX by 343.1% in the 2nd quarter. Edgestream Partners L.P. now owns 203,956 shares of the company’s stock valued at $7,010,000 after acquiring an additional 157,927 shares during the last quarter. Quantbot Technologies LP grew its position in FOX by 542.4% in the 2nd quarter. Quantbot Technologies LP now owns 197,781 shares of the company’s stock valued at $6,798,000 after acquiring an additional 166,994 shares during the last quarter. Dimensional Fund Advisors LP grew its position in FOX by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after acquiring an additional 268,778 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of FOX in the 2nd quarter worth $3,957,000. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of FOX by 2.8% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,579,272 shares of the company’s stock worth $54,280,000 after buying an additional 42,424 shares during the period. Institutional investors own 52.52% of the company’s stock.

About FOX

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.