Wells Fargo & Company Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its price target boosted by analysts at Wells Fargo & Company from $46.00 to $49.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 12.46% from the stock’s previous close.

FOXA has been the topic of a number of other reports. Evercore ISI raised their price target on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. Rosenblatt Securities raised 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. Deutsche Bank Aktiengesellschaft upped their target price on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday. Guggenheim raised their price target on FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Loop Capital upped their price objective on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.08.

FOX Stock Up 1.3 %

FOX stock traded up $0.57 during midday trading on Tuesday, hitting $43.57. 370,234 shares of the company’s stock were exchanged, compared to its average volume of 2,949,524. The firm has a 50-day moving average of $41.39 and a two-hundred day moving average of $37.34. FOX has a 12 month low of $28.28 and a 12 month high of $45.82. The company has a market cap of $20.05 billion, a PE ratio of 13.82, a P/E/G ratio of 1.90 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54.

FOX (NASDAQ:FOXA) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS. As a group, analysts expect that FOX will post 3.69 earnings per share for the current fiscal year.

Insider Activity

In other 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, with a total value of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was 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 trade was a 0.00 % 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, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FOXA. Mitsubishi UFJ Trust & Banking Corp grew its stake in FOX by 31.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock valued at $15,523,000 after acquiring an additional 117,458 shares during the period. Jane Street Group LLC lifted its holdings in FOX by 25.2% during the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after purchasing an additional 28,072 shares in the last quarter. UniSuper Management Pty Ltd grew its position in shares of FOX by 565.6% in the first quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock valued at $745,000 after purchasing an additional 20,250 shares during the period. CreativeOne Wealth LLC purchased a new stake in shares of FOX during the first quarter worth about $609,000. Finally, SG Americas Securities LLC raised its position in shares of FOX by 89.6% during the 1st quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock worth $1,575,000 after purchasing an additional 23,791 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

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.