FOX (NASDAQ:FOXA) Given New $55.00 Price Target at Loop Capital

FOX (NASDAQ:FOXA) had its price target lifted by Loop Capital from $48.00 to $55.00 in a research note published on Wednesday morning,Benzinga reports. Loop Capital currently has a buy rating on the stock.

A number of other equities research analysts have also commented on the company. UBS Group increased their price target on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Guggenheim boosted their price target on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley upped 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. Bank of America boosted their target price on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group increased their price target on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, FOX currently has an average rating of “Hold” and a consensus target price of $46.87.

FOX Stock Down 1.1 %

Shares of FOX stock traded down $0.53 during trading on Wednesday, reaching $48.90. 986,236 shares of the company traded hands, compared to its average volume of 3,124,418. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The firm has a market capitalization of $22.33 billion, a PE ratio of 11.96, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a 50 day moving average price of $44.83 and a 200-day moving average price of $40.39. FOX has a 1-year low of $28.28 and a 1-year high of $50.63.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. As a group, equities research analysts expect that FOX will post 3.94 earnings per share for the current fiscal year.

Insider Activity

In related news, COO John Nallen sold 182,481 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock worth $20,822,072 over the last ninety days. Company insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently bought and sold shares of FOXA. Franklin Resources Inc. boosted its stake in shares of FOX by 108.4% in the 3rd quarter. Franklin Resources Inc. now owns 177,342 shares of the company’s stock valued at $7,369,000 after purchasing an additional 92,244 shares in the last quarter. Tidal Investments LLC grew its stake in shares of FOX by 24.6% during the third quarter. Tidal Investments LLC now owns 33,672 shares of the company’s stock valued at $1,425,000 after buying an additional 6,658 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of FOX in the 3rd quarter valued at about $3,587,000. Invst LLC purchased a new stake in FOX during the 3rd quarter valued at about $740,000. Finally, Toronto Dominion Bank grew its position in FOX by 11.8% during the 3rd quarter. Toronto Dominion Bank now owns 76,077 shares of the company’s stock worth $3,220,000 after acquiring an additional 8,040 shares during the last quarter. 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 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.