FOX (NASDAQ:FOXA) Price Target Raised to $42.00

FOX (NASDAQ:FOXA) had its price target lifted by JPMorgan Chase & Co. from $41.00 to $42.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on FOXA. Guggenheim lifted their price target on shares of FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley increased their price objective on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Evercore ISI increased their target price on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a report on Wednesday, August 7th. Finally, Bank of America increased their target price on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.00.

FOX Stock Performance

FOXA stock opened at $44.60 on Tuesday. FOX has a twelve month low of $28.28 and a twelve month high of $45.82. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company has a market cap of $20.53 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 1.19 and a beta of 0.76. The business’s fifty day moving average is $41.66 and its 200-day moving average is $37.62.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. Equities research analysts forecast that FOX will post 3.87 EPS for the current year.

Insider Activity at FOX

In related news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction dated 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 directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other FOX 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 value of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction on Thursday, August 15th. The stock was bought at an average cost 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 owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 335,355 shares of company stock worth $14,244,865. Insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its holdings in FOX by 11.0% in the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after acquiring an additional 326 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of FOX by 1.7% during the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock worth $991,000 after purchasing an additional 385 shares during the period. Raymond James Trust N.A. increased its holdings in shares of FOX by 4.4% during the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock worth $333,000 after purchasing an additional 406 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of FOX by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock worth $1,249,000 after purchasing an additional 451 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its holdings in shares of FOX by 0.9% during the second quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company’s stock worth $1,695,000 after purchasing an additional 453 shares during the period. 52.52% of the stock is owned by institutional investors.

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.