Fox Co. (NASDAQ:FOXA) Given Average Recommendation of “Hold” by Brokerages

Fox Co. (NASDAQ:FOXA) has earned an average recommendation of “Hold” from the seventeen brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $48.00.

FOXA has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on shares of FOX from $42.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Barclays raised their target price on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Cfra reissued a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Finally, Bank of America raised their price objective on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the 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 completion of the sale, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock worth $20,822,072 in the last quarter. 21.77% of the stock is currently owned by company insiders.

Institutional Trading of FOX

A number of hedge funds have recently bought and sold shares of FOXA. Brooklyn Investment Group raised its position in shares of FOX by 142.5% during the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after buying an additional 466 shares during the last quarter. Quest Partners LLC bought a new position in FOX during the third quarter valued at about $51,000. Quarry LP acquired a new position in FOX in the 3rd quarter valued at approximately $70,000. Versant Capital Management Inc lifted its position in shares of FOX by 3,551.1% in the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock worth $83,000 after acquiring an additional 1,669 shares during the period. Finally, Transamerica Financial Advisors Inc. bought a new stake in shares of FOX in the 3rd quarter worth approximately $119,000. 52.52% of the stock is owned by institutional investors.

FOX Stock Performance

FOXA opened at $48.00 on Friday. The business has a fifty day simple moving average of $47.72 and a 200-day simple moving average of $42.63. The firm has a market cap of $21.92 billion, a PE ratio of 11.74, a P/E/G ratio of 1.19 and a beta of 0.75. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $50.63.

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 return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the business posted $1.09 EPS. FOX’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that FOX will post 4.08 EPS for the current fiscal year.

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.