JPMorgan Chase & Co. Increases FOX (NASDAQ:FOXA) Price Target to $42.00

FOX (NASDAQ:FOXA) had its target price upped by analysts at JPMorgan Chase & Co. from $41.00 to $42.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 7.65% from the company’s previous close.

Several other research firms have also weighed in on FOXA. Guggenheim upped their price objective on shares of FOX from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Macquarie upped their target price on FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Cfra reaffirmed a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Finally, Rosenblatt Securities increased their price objective on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.00.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $45.48 on Tuesday. FOX has a 12-month low of $28.28 and a 12-month high of $45.82. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company has a market cap of $20.93 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. The company’s fifty day moving average is $41.53 and its two-hundred day moving average is $37.48.

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

Insider Activity at FOX

In other FOX 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 transaction of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction 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 transaction, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 335,355 shares of company stock worth $14,244,865. 21.77% of the stock is owned by corporate insiders.

Institutional Trading of FOX

Large investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in FOX by 31.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock valued at $15,523,000 after purchasing an additional 117,458 shares in the last quarter. Jane Street Group LLC increased its stake in shares of FOX by 25.2% in the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after buying an additional 28,072 shares in the last quarter. UniSuper Management Pty Ltd raised its holdings in shares of FOX by 565.6% in 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 last quarter. CreativeOne Wealth LLC acquired a new position in FOX during the 1st quarter worth about $609,000. Finally, SG Americas Securities LLC grew its holdings in FOX by 89.6% during the 1st quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock worth $1,575,000 after acquiring an additional 23,791 shares during the last quarter. 52.52% of the stock is owned by institutional investors.

FOX Company Profile

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.