FOX (NASDAQ:FOXA) Price Target Raised to $49.00

FOX (NASDAQ:FOXA) had its price objective boosted by JPMorgan Chase & Co. from $42.00 to $49.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

FOXA has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Cfra reaffirmed a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Barclays increased their price target on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Loop Capital boosted their price objective on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company upped their target price on FOX from $49.00 to $59.00 and gave the stock an “underweight” rating in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.00.

FOX Stock Down 0.5 %

NASDAQ FOXA opened at $48.32 on Tuesday. The business has a fifty day moving average price of $47.58 and a two-hundred day moving average price of $42.50. The stock has a market capitalization of $22.07 billion, a PE ratio of 11.81, a PEG ratio of 1.19 and a beta of 0.75. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $50.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 EPS. Equities analysts expect that FOX will post 4.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the sale, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock valued at $20,822,072 over the last quarter. Insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FOXA. Crossmark Global Holdings Inc. raised its holdings in shares of FOX by 1.7% during the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after purchasing an additional 385 shares during the period. Ritholtz Wealth Management increased its position in FOX by 4.1% in the 4th quarter. Ritholtz Wealth Management now owns 10,104 shares of the company’s stock valued at $491,000 after buying an additional 399 shares in the last quarter. Kathmere Capital Management LLC increased its position in FOX by 9.0% in the 4th quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock valued at $255,000 after buying an additional 431 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in FOX by 1.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock worth $1,249,000 after buying an additional 451 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after acquiring an additional 466 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

About FOX

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.