FOX (NASDAQ:FOXA) Price Target Raised to $42.00

FOX (NASDAQ:FOXA) had its price objective increased by TD Cowen from $36.00 to $42.00 in a report released on Tuesday morning,Benzinga reports. They currently have a hold rating on the stock.

FOXA has been the subject of several other research reports. JPMorgan Chase & Co. increased their price objective on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group boosted their target price on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday. Macquarie reaffirmed a “neutral” rating and set a $43.00 price target on shares of FOX in a research note on Tuesday. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, Wells Fargo & Company raised their target price on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.00.

FOX Trading Down 1.8 %

Shares of FOXA stock opened at $44.67 on Tuesday. The stock has a 50 day simple moving average of $41.53 and a 200 day simple moving average of $37.48. FOX has a 1 year low of $28.28 and a 1 year high of $45.82. 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 stock has a market cap of $20.56 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.09 EPS. On average, research analysts predict 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 182,481 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were 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 owns 249,424 shares in the company, valued at approximately $10,907,311.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lachlan K. Murdoch bought 119,705 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price 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 in the company, valued at $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 335,355 shares of company stock worth $14,244,865 in the last quarter. Company insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of large investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its holdings in FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after buying an additional 461 shares during the last quarter. Friedenthal Financial acquired a new stake in shares of FOX in the 2nd quarter worth about $51,000. Quest Partners LLC bought a new position in FOX in the 3rd quarter valued at about $51,000. Duncker Streett & Co. Inc. acquired a new position in FOX during the 2nd quarter valued at about $52,000. Finally, Meeder Asset Management Inc. bought a new stake in FOX during the 1st quarter worth approximately $66,000. 52.52% of the stock is currently 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.