Fox Co. (NASDAQ:FOXA) Receives $38.23 Consensus Target Price from Brokerages

Fox Co. (NASDAQ:FOXA) has received an average recommendation of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $38.23.

FOXA has been the topic of a number of recent research reports. Rosenblatt Securities lifted their target price on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their target price on FOX from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $29.00 to $46.00 in a research report on Friday, August 16th. Finally, Macquarie lifted their target price on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, August 12th.

Insider Activity

In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The acquisition 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 company’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 disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently modified their holdings of FOXA. Norges Bank bought a new stake in shares of FOX during the 4th quarter worth $68,391,000. KBC Group NV increased its holdings in FOX by 453.0% in the 4th quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock worth $60,225,000 after purchasing an additional 1,662,748 shares in the last quarter. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 1,653,913 shares in the last quarter. TD Asset Management Inc increased its holdings in FOX by 128.0% in the 4th quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock worth $68,068,000 after purchasing an additional 1,287,911 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in FOX by 1,727.2% in the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after purchasing an additional 912,250 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Trading Up 1.9 %

NASDAQ:FOXA opened at $39.66 on Monday. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $41.58. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The stock has a market capitalization of $18.25 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.78 and a beta of 0.76. The business’s 50-day simple moving average is $38.68 and its 200-day simple moving average is $34.42.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.07. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the business posted $0.88 EPS. FOX’s revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts expect that FOX will post 3.72 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.27 per share. This represents a dividend yield of 1.4%. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date is Wednesday, September 4th. FOX’s dividend payout ratio is presently 16.93%.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.