FOX (NASDAQ:FOXA) Price Target Raised to $55.00

FOX (NASDAQ:FOXA) had its price target boosted by Bank of America from $50.00 to $55.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

FOXA has been the topic of several other research reports. The Goldman Sachs Group boosted their price target on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Barclays upped their price target on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Cfra reissued a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Finally, Morgan Stanley raised their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.87.

FOX Stock Performance

Shares of FOXA opened at $49.53 on Wednesday. The company’s 50 day simple moving average is $45.14 and its 200-day simple moving average is $40.55. The firm has a market cap of $22.62 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. FOX has a 12-month low of $28.28 and a 12-month high of $50.63. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share 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 analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. As a group, equities analysts predict that FOX will post 3.94 EPS for the current year.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FOX

Hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in shares of FOX by 108.4% during the second quarter. Fifth Third Bancorp now owns 12,488 shares of the company’s stock valued at $429,000 after acquiring an additional 6,495 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of FOX by 1,727.2% during 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 during the last quarter. Raymond James Trust N.A. grew its holdings 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 worth $333,000 after buying an additional 406 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of FOX by 3.5% during the second quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company’s stock worth $461,000 after buying an additional 458 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of FOX by 1.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 987,444 shares of the company’s stock valued at $33,938,000 after buying an additional 12,321 shares during the period. Hedge funds and other 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.