FOX (NASDAQ:FOXA) Given “Neutral” Rating at Macquarie

Macquarie reiterated their neutral rating on shares of FOX (NASDAQ:FOXA) in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a $43.00 price target on the stock.

FOXA has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their target price on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. Evercore ISI raised their price target on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. The Goldman Sachs Group increased their price objective on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays lifted their target price on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, Bank of America raised 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 analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $44.00.

FOX Stock Performance

NASDAQ FOXA opened at $43.60 on Tuesday. The business’s 50-day moving average price is $41.44 and its 200 day moving average price is $37.42. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. FOX has a twelve month low of $28.28 and a twelve month high of $45.82. The company has a market capitalization of $20.07 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that FOX will post 3.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. This represents 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. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FOX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of FOX by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock worth $934,354,000 after acquiring an additional 1,653,913 shares during the period. Independent Franchise Partners LLP boosted its stake in FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after purchasing an additional 597,450 shares in the last quarter. LSV Asset Management raised its stake in shares of FOX by 5.9% in the 2nd quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock worth $294,816,000 after buying an additional 481,267 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of FOX by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after buying an additional 268,778 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its holdings in FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock worth $83,208,000 after acquiring an additional 492,467 shares during the period. Institutional investors own 52.52% of the company’s stock.

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.