FOX (NASDAQ:FOXA) Price Target Raised to $46.00 at Loop Capital

FOX (NASDAQ:FOXA) had its price target increased by Loop Capital from $43.00 to $46.00 in a research report sent to investors on Tuesday, Benzinga reports. Loop Capital currently has a buy rating on the stock.

Several other equities analysts also recently commented on the company. Evercore ISI upped their price objective on FOX from $33.00 to $38.00 and gave the company an in-line rating in a research report on Wednesday, August 7th. Macquarie boosted their target price on shares of FOX from $32.00 to $35.00 and gave the stock a neutral rating in a report on Monday, August 12th. Wells Fargo & Company upgraded FOX from an underweight rating to an overweight rating and increased their price objective for the company from $29.00 to $46.00 in a report on Friday, August 16th. Guggenheim increased their price objective on shares of FOX from $44.00 to $45.00 and gave the company a buy rating in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. lifted their price target on FOX from $38.00 to $41.00 and gave the stock a neutral rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $41.08.

FOX Stock Up 0.1 %

FOXA opened at $41.39 on Tuesday. 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 $42.63. The firm has a 50-day simple moving average of $40.48 and a two-hundred day simple moving average of $35.93. The company has a market capitalization of $19.05 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.07. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. Analysts forecast that FOX will post 3.69 earnings per share for the current fiscal year.

FOX Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, September 4th. This represents a yield of 1.4%. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio is currently 17.25%.

Insider Activity at FOX

In other news, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FOX news, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John Nallen sold 52,874 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

Institutional Trading of FOX

Institutional investors have recently made changes to their positions in the company. First Trust Advisors LP grew its stake in shares of FOX by 17.3% in the fourth quarter. First Trust Advisors LP now owns 927,051 shares of the company’s stock valued at $27,506,000 after buying an additional 136,473 shares in the last quarter. Caxton Associates LP raised its stake in FOX by 186.3% during the 4th quarter. Caxton Associates LP now owns 66,939 shares of the company’s stock worth $1,986,000 after acquiring an additional 43,559 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of FOX by 3.1% in the 4th quarter. True Wealth Design LLC now owns 24,654 shares of the company’s stock valued at $731,000 after purchasing an additional 738 shares during the last quarter. Point72 Europe London LLP purchased a new stake in FOX in the fourth quarter valued at approximately $586,000. Finally, Quarry LP purchased a new stake in FOX in the 4th quarter valued at $70,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

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.