FOX (NASDAQ:FOXA) Price Target Raised to $49.00

FOX (NASDAQ:FOXA) had its target price raised by JPMorgan Chase & Co. from $42.00 to $49.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts also recently weighed in on the company. Guggenheim upped their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company boosted their price objective on shares of FOX from $49.00 to $59.00 and gave the stock an “underweight” rating in a research report on Friday, January 10th. Macquarie reaffirmed a “neutral” rating and issued a $43.00 target price on shares of FOX in a research report on Tuesday, November 5th. Barclays boosted their price target on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Finally, StockNews.com cut FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.00.

FOX Stock Down 0.5 %

Shares of FOXA stock opened at $48.32 on Tuesday. FOX has a 12-month low of $28.28 and a 12-month high of $50.63. 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 firm has a fifty day moving average of $47.58 and a 200-day moving average of $42.50. The company has a market capitalization of $22.07 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.19 and a beta of 0.75.

FOX (NASDAQ:FOXA) last released its earnings results 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 firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. As a group, equities research analysts predict that FOX will post 4.08 earnings per share for the current fiscal year.

Insider Activity

In other FOX news, COO John Nallen sold 182,481 shares of the company’s 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction on 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 sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock valued at $20,822,072 over the last ninety days. 21.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FOX

Hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group grew its position in shares of FOX by 142.5% during the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after purchasing an additional 466 shares in the last quarter. Quest Partners LLC bought a new stake in shares of FOX in the third quarter valued at approximately $51,000. Quarry LP acquired a new stake in FOX during the third quarter worth approximately $70,000. Versant Capital Management Inc increased its stake in FOX by 3,551.1% during the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock worth $83,000 after acquiring an additional 1,669 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new position in FOX in the 3rd quarter valued at $119,000. 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.