FOX (NASDAQ:FOXA) PT Raised to $41.00 at JPMorgan Chase & Co.

FOX (NASDAQ:FOXA) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $38.00 to $41.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 3.07% from the company’s previous close.

A number of other research firms have also weighed in on FOXA. The Goldman Sachs Group upped their price objective on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Rosenblatt Securities upped their price objective on FOX from $37.00 to $38.00 and gave the stock 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 upped their price objective for the stock from $29.00 to $46.00 in a research report on Friday, August 16th. Evercore ISI upped their price objective on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 7th. Finally, Guggenheim upped their price objective on FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, FOX presently has an average rating of “Hold” and an average target price of $39.64.

FOX Stock Up 0.8 %

Shares of NASDAQ FOXA opened at $42.30 on Wednesday. The firm has a market cap of $19.74 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.85 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. FOX has a 52-week low of $28.28 and a 52-week high of $42.44. The business’s 50 day moving average is $39.49 and its two-hundred day moving average is $35.04.

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

Insider Buying and Selling at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO John Nallen sold 52,874 shares of the 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 completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. 21.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FOX

Hedge funds have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV boosted its stake in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after buying an additional 461 shares during the period. UMB Bank n.a. boosted its stake in shares of FOX by 254.4% during the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock worth $35,000 after buying an additional 809 shares during the period. Friedenthal Financial acquired a new stake in shares of FOX during the second quarter worth about $51,000. Duncker Streett & Co. Inc. acquired a new stake in shares of FOX during the second quarter worth about $52,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of FOX during the first quarter worth about $66,000. Institutional investors and hedge funds 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 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.