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

FOX (NASDAQ:FOXA) had its target price hoisted by Wells Fargo & Company from $59.00 to $64.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the company. Guggenheim raised their price objective on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley lifted their price target on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Macquarie reissued a “neutral” rating and set a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. Finally, Evercore ISI upgraded shares of FOX to a “hold” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.19.

FOX Stock Performance

NASDAQ:FOXA opened at $54.53 on Wednesday. The company has a market capitalization of $24.91 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.25 and a beta of 0.76. The business has a 50 day moving average of $48.63 and a 200 day moving average of $43.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. FOX has a 1-year low of $28.28 and a 1-year high of $55.56.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business posted $0.34 EPS. The business’s quarterly revenue was up 19.9% on a year-over-year basis. On average, sell-side analysts predict that FOX will post 4.12 earnings per share for the current fiscal year.

FOX Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a $0.27 dividend. This represents a yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s payout ratio is 13.20%.

Insiders Place Their Bets

In other news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Institutional Trading of FOX

A number of institutional investors and hedge funds have recently bought and sold shares of FOXA. SRS Capital Advisors Inc. increased its holdings in shares of FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after purchasing an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in FOX during the 4th quarter valued at approximately $28,000. Brooklyn Investment Group grew its holdings in FOX by 142.5% during the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after buying an additional 466 shares in the last quarter. Quest Partners LLC bought a new stake in FOX in the 3rd quarter worth approximately $51,000. Finally, Quarry LP purchased a new stake in shares of FOX during the 3rd quarter worth approximately $70,000. 52.52% of the stock is currently owned by institutional investors.

FOX Company Profile

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.