FOX (NASDAQ:FOXA) Price Target Raised to $55.00

FOX (NASDAQ:FOXA) had its price target hoisted by Loop Capital from $48.00 to $55.00 in a report released on Wednesday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Barclays upped their target price on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Morgan Stanley upped their price target on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Macquarie reissued a “neutral” rating and set a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Finally, Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, FOX has an average rating of “Hold” and an average target price of $46.87.

FOX Trading Up 1.4 %

Shares of FOXA stock opened at $49.53 on Wednesday. The stock has a market capitalization of $22.62 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.18 and a beta of 0.77. The company’s fifty day simple moving average is $45.14 and its two-hundred day simple moving average is $40.55. FOX has a 1 year low of $28.28 and a 1 year high of $50.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

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

Insider Activity

In related news, 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 transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s 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 owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. The trade was a 7.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 469,352 shares of company stock valued at $20,822,072. Corporate insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FOXA. Crossmark Global Holdings Inc. boosted its position in FOX by 1.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after buying an additional 385 shares during the period. Raymond James Trust N.A. grew its stake in shares of FOX by 4.4% in the second 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 grew its stake in shares of FOX by 1.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock worth $1,249,000 after purchasing an additional 451 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in FOX by 3.5% during the 2nd quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company’s stock valued at $461,000 after purchasing an additional 458 shares during the period. Finally, US Bancorp DE raised its position in FOX by 4.0% during the 3rd quarter. US Bancorp DE now owns 14,239 shares of the company’s stock valued at $603,000 after purchasing an additional 550 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.