Deutsche Bank Aktiengesellschaft Boosts FOX (NASDAQ:FOXA) Price Target to $42.00

FOX (NASDAQ:FOXA) had its price target raised by Deutsche Bank Aktiengesellschaft from $39.00 to $42.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on FOXA. Rosenblatt Securities lifted their price target on FOX from $37.00 to $38.00 and gave the company a neutral rating in a report on Wednesday. Barclays boosted their target price on shares of FOX from $33.00 to $36.00 and gave the stock an equal weight rating in a research report on Monday, May 13th. Bank of America upgraded shares of FOX from a neutral rating to a buy rating and raised their price target for the company from $34.00 to $40.00 in a report on Thursday, May 9th. The Goldman Sachs Group upped their price objective on shares of FOX from $42.00 to $44.00 and gave the stock a buy rating in a report on Wednesday. Finally, Evercore ISI raised their target price on FOX from $33.00 to $38.00 and gave the company an in-line rating in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $36.62.

FOX Stock Up 0.1 %

FOXA traded up $0.03 on Wednesday, reaching $39.33. 2,618,659 shares of the company traded hands, compared to its average volume of 3,055,185. The company has a market cap of $18.36 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.51 and a beta of 0.77. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. The stock’s 50 day moving average price is $35.64 and its 200-day moving average price is $32.73. FOX has a 52-week low of $28.28 and a 52-week high of $39.81.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. FOX had a net margin of 11.19% and a return on equity of 15.90%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FOX’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. On average, sell-side analysts expect that FOX will post 3.33 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, September 4th. This represents a yield of 1.4%. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. FOX’s payout ratio is 16.30%.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the transaction, the chairman now owns 1,408,862 shares in the company, valued at approximately $43,519,747.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Steven Tomsic sold 30,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the transaction, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $30.89, for a total transaction of $407,006.64. Following the sale, the chairman now owns 1,408,862 shares in the company, valued at approximately $43,519,747.18. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several institutional investors have recently made changes to their positions in FOXA. Massmutual Trust Co. FSB ADV boosted its holdings in FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares in the last quarter. Global Retirement Partners LLC grew its position in FOX by 862.2% in the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after acquiring an additional 845 shares during the period. UMB Bank n.a. raised its stake in FOX by 254.4% during the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock worth $35,000 after acquiring an additional 809 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of FOX during the fourth quarter valued at $43,000. Finally, Friedenthal Financial acquired a new stake in shares of FOX in the 2nd quarter valued at $51,000. 52.52% of the stock is currently 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 Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.