Loop Capital Increases FOX (NASDAQ:FOXA) Price Target to $46.00

FOX (NASDAQ:FOXA) had its target price upped by Loop Capital from $43.00 to $46.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

FOXA has been the subject of a number of other research reports. Cfra reissued a sell rating on shares of FOX in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of FOX from $39.00 to $42.00 and gave the stock a buy rating in a research report on Wednesday, August 7th. Rosenblatt Securities boosted their price objective on FOX from $37.00 to $38.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their target price on shares of FOX from $42.00 to $44.00 and gave the company a buy rating in a research note on Wednesday, August 7th. Finally, Seaport Res Ptn downgraded FOX from a strong-buy rating to a hold rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, FOX presently has an average rating of Hold and an average target price of $41.08.

FOX Trading Up 0.1 %

Shares of FOXA opened at $41.39 on Tuesday. The firm has a market capitalization of $19.05 billion, a P/E ratio of 13.22, a PEG ratio of 1.90 and a beta of 0.76. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average is $40.48 and its two-hundred day moving average is $35.93. FOX has a twelve month low of $28.28 and a twelve month high of $42.63.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. FOX had a net margin of 10.74% and a return on equity of 15.57%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the company earned $0.88 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. On average, research analysts predict that FOX will post 3.69 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a dividend of $0.27 per share. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. This represents a yield of 1.4%. The ex-dividend date was Wednesday, September 4th. FOX’s dividend payout ratio is presently 17.25%.

Insider Buying and Selling

In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on 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 owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of FOX by 5.9% during the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after buying an additional 1,653,913 shares in the last quarter. Retirement Systems of Alabama raised its holdings in FOX by 1,727.2% during the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after buying an additional 912,250 shares in the last quarter. AXA S.A. raised its stake in shares of FOX by 294.2% in the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock valued at $30,537,000 after acquiring an additional 663,089 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of FOX by 2,396.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 673,723 shares of the company’s stock worth $19,989,000 after buying an additional 646,737 shares during the last quarter. Finally, Independent Franchise Partners LLP lifted its position in FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after acquiring an additional 597,450 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

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.