FOX (NASDAQ:FOXA) PT Raised to $38.00

FOX (NASDAQ:FOXA) had its price target lifted by JPMorgan Chase & Co. from $36.00 to $38.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also issued reports about the company. Rosenblatt Securities lifted their price target on FOX from $37.00 to $38.00 and gave the stock a neutral rating in a research note on Wednesday. Bank of America upgraded shares of FOX from a neutral rating to a buy rating and raised their price objective for the stock from $34.00 to $40.00 in a research report on Thursday, May 9th. Barclays increased their price objective on FOX from $33.00 to $36.00 and gave the stock an equal weight rating in a research report on Monday, May 13th. Evercore ISI increased their price target on FOX from $33.00 to $38.00 and gave the stock an in-line rating in a report on Wednesday. Finally, Macquarie lifted their target price on shares of FOX from $30.00 to $32.00 and gave the company a neutral rating in a report on Monday, May 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $36.62.

FOX Price Performance

Shares of FOX stock traded up $0.03 on Wednesday, reaching $39.33. The company’s stock had a trading volume of 2,618,659 shares, compared to its average volume of 3,055,185. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $18.36 billion, a P/E ratio of 12.33, a PEG ratio of 1.51 and a beta of 0.77. The stock has a 50-day moving average price of $35.64 and a 200-day moving average price of $32.73. FOX has a 52-week low of $28.28 and a 52-week high of $39.81.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. FOX had a net margin of 11.19% and a return on equity of 15.90%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. Analysts expect that FOX will post 3.33 EPS for the current year.

FOX Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. This represents a yield of 1.4%. The ex-dividend date is Wednesday, September 4th. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. FOX’s payout ratio is 16.30%.

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the completion of the transaction, the chairman now owns 1,408,862 shares in the company, valued at $43,519,747.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Chairman Keith Rupert Murdoch sold 13,176 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $30.89, for a total transaction of $407,006.64. Following the sale, the chairman now owns 1,408,862 shares of the company’s stock, valued at approximately $43,519,747.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven Tomsic sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the sale, the chief financial officer now owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in FOX by 5.9% in the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after acquiring an additional 1,653,913 shares during the last quarter. LSV Asset Management lifted its holdings 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 valued at $294,816,000 after purchasing an additional 481,267 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of FOX by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after purchasing an additional 268,778 shares during the period. Charles Schwab Investment Management Inc. grew its stake in FOX by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,443 shares of the company’s stock worth $68,996,000 after buying an additional 42,143 shares during the last quarter. Finally, Norges Bank acquired a new position in FOX during the fourth quarter worth approximately $68,391,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.