JPMorgan Chase & Co. Boosts FOX (NASDAQ:FOXA) Price Target to $41.00

FOX (NASDAQ:FOXA) had its price target lifted by JPMorgan Chase & Co. from $38.00 to $41.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also weighed in on FOXA. Seaport Res Ptn lowered shares of FOX from a strong-buy rating to a hold rating in a research report on Monday, September 9th. Macquarie raised their price objective on FOX from $32.00 to $35.00 and gave the company a neutral rating in a report on Monday, August 12th. Wells Fargo & Company raised FOX from an underweight rating to an overweight rating and upped their target price for the stock from $29.00 to $46.00 in a report on Friday, August 16th. Rosenblatt Securities lifted their price target on FOX from $37.00 to $38.00 and gave the company a neutral rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on FOX from $39.00 to $42.00 and gave the company a buy rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $39.64.

FOX Stock Down 0.1 %

Shares of FOXA opened at $42.27 on Wednesday. The firm has a 50 day simple moving average of $39.70 and a two-hundred day simple moving average of $35.18. The company has a market cap of $19.73 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.85 and a beta of 0.76. FOX has a one year low of $28.28 and a one year high of $42.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.07. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. FOX’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. Research analysts forecast that FOX will post 3.72 EPS for the current fiscal year.

FOX Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.27 dividend. The ex-dividend date was Wednesday, September 4th. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio (DPR) is currently 16.93%.

Insider Buying and Selling

In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other FOX news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The disclosure for this purchase can be found here. 21.77% of the stock is owned by company insiders.

Institutional Trading of FOX

Institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC increased its position in shares of FOX by 99.9% during the fourth quarter. Hsbc Holdings PLC now owns 652,921 shares of the company’s stock valued at $19,339,000 after acquiring an additional 326,254 shares during the last quarter. TD Asset Management Inc increased its position in shares of FOX by 128.0% during the 4th 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 last quarter. TFO Wealth Partners LLC raised its stake in shares of FOX by 69,383.3% during the 4th quarter. TFO Wealth Partners LLC now owns 8,338 shares of the company’s stock worth $247,000 after purchasing an additional 8,326 shares during the period. Partners Capital Investment Group LLP boosted its holdings in shares of FOX by 2.9% in the 4th quarter. Partners Capital Investment Group LLP now owns 355,500 shares of the company’s stock worth $10,548,000 after buying an additional 9,859 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its position in FOX by 219.1% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 67,333 shares of the company’s stock valued at $1,998,000 after buying an additional 46,233 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

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.