FOX (NASDAQ:FOXA) Given New $41.00 Price Target at JPMorgan Chase & Co.

FOX (NASDAQ:FOXA) had its price target increased by JPMorgan Chase & Co. from $38.00 to $41.00 in a report released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also commented on FOXA. Evercore ISI boosted their price objective on FOX from $33.00 to $38.00 and gave the stock an in-line rating in a report on Wednesday, August 7th. Seaport Res Ptn lowered shares of FOX from a strong-buy rating to a hold rating in a report on Monday, September 9th. Wells Fargo & Company raised shares of FOX from an underweight rating to an overweight rating and lifted their price objective for the stock from $29.00 to $46.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their target price on FOX from $39.00 to $42.00 and gave the company a buy rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their price target on FOX from $42.00 to $44.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $39.64.

FOX Stock Performance

NASDAQ FOXA opened at $42.27 on Wednesday. The company’s 50 day simple moving average is $39.70 and its two-hundred day simple moving average is $35.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. FOX has a 1 year low of $28.28 and a 1 year high of $42.63. The stock has a market capitalization of $19.73 billion, a PE ratio of 13.25, a P/E/G ratio of 1.85 and a beta of 0.76.

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

FOX Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio is presently 16.93%.

Insiders Place Their Bets

In related news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, with a total value 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Park Avenue Securities LLC grew its position in shares of FOX by 1.7% in the 1st quarter. Park Avenue Securities LLC now owns 18,908 shares of the company’s stock worth $591,000 after buying an additional 324 shares during the period. Bessemer Group Inc. grew its holdings in FOX by 11.0% in the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock worth $103,000 after purchasing an additional 326 shares during the period. Raymond James Trust N.A. increased its stake in shares of FOX by 4.4% during the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock valued at $333,000 after purchasing an additional 406 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in shares of FOX by 0.9% during the second quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company’s stock valued at $1,695,000 after purchasing an additional 453 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in shares of FOX by 3.5% in the 2nd quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company’s stock worth $461,000 after purchasing an additional 458 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

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.