FOX (NASDAQ:FOXA) Given New $50.00 Price Target at Bank of America

FOX (NASDAQ:FOXA) had its price target upped by Bank of America from $45.00 to $50.00 in a research report report published on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Seaport Res Ptn lowered FOX from a strong-buy rating to a hold rating in a report on Monday, September 9th. Evercore ISI raised their target price on shares of FOX from $33.00 to $38.00 and gave the company an in-line rating in a research note on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on shares of FOX from $42.00 to $44.00 and gave the stock a buy rating in a research report on Wednesday, August 7th. Macquarie increased their price objective on shares of FOX from $32.00 to $35.00 and gave the company a neutral rating in a report on Monday, August 12th. Finally, Wells Fargo & Company upgraded shares of FOX from an underweight rating to an overweight rating and raised their price objective for the company from $29.00 to $46.00 in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, FOX has a consensus rating of Hold and an average price target of $39.64.

FOX Trading Down 0.1 %

Shares of NASDAQ:FOXA opened at $42.27 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $39.70 and its 200 day moving average price is $35.18. The company has a market cap 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 has a fifty-two week low of $28.28 and a fifty-two week high of $42.63.

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 the consensus estimate of $0.83 by $0.07. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Sell-side analysts anticipate that FOX will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, September 4th. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio (DPR) is currently 16.93%.

Insider Transactions at FOX

In other FOX 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 sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The transaction was disclosed in a filing with the SEC, which is available through this link. In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO John Nallen sold 52,874 shares of FOX 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 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. 21.77% of the stock is owned by insiders.

Institutional Investors Weigh In On FOX

Institutional investors have recently bought and sold shares of the business. KBC Group NV boosted its stake in shares of FOX by 453.0% during the 4th quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock valued at $60,225,000 after buying an additional 1,662,748 shares during the period. Vanguard Group Inc. raised its holdings in shares of FOX by 5.9% during the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock worth $934,354,000 after acquiring an additional 1,653,913 shares in the last quarter. TD Asset Management Inc boosted its position in FOX by 128.0% during the fourth quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock valued at $68,068,000 after purchasing an additional 1,287,911 shares during the last quarter. Retirement Systems of Alabama grew its stake in FOX by 1,727.2% in the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after purchasing an additional 912,250 shares in the last quarter. Finally, AXA S.A. increased its position in FOX by 294.2% in the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after purchasing an additional 663,089 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.