FOX (NASDAQ:FOXA) Price Target Raised to $49.00

FOX (NASDAQ:FOXA) had its target price hoisted by Wells Fargo & Company from $46.00 to $49.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently weighed in on FOXA. Macquarie increased their price objective on shares of FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Morgan Stanley lifted their price target on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. The Goldman Sachs Group upped their price objective on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, Bank of America lifted their price objective on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.00.

FOX Trading Down 1.8 %

NASDAQ:FOXA opened at $44.67 on Tuesday. The company has a market cap of $20.56 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The company has a 50 day simple moving average of $41.53 and a two-hundred day simple moving average of $37.48. FOX has a 12 month low of $28.28 and a 12 month high of $45.82.

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

Insider Buying and Selling at FOX

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

Institutional Trading of FOX

Institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of FOX by 31.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock worth $15,523,000 after acquiring an additional 117,458 shares during the last quarter. Jane Street Group LLC lifted its stake in FOX by 25.2% in the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock worth $4,362,000 after purchasing an additional 28,072 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in shares of FOX by 565.6% during the first quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock valued at $745,000 after buying an additional 20,250 shares during the period. CreativeOne Wealth LLC bought a new position in shares of FOX during the first quarter valued at approximately $609,000. Finally, SG Americas Securities LLC raised its holdings in shares of FOX by 89.6% in the first quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock worth $1,575,000 after buying an additional 23,791 shares during the period. 52.52% of the stock is currently owned by 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.