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

FOX (NASDAQ:FOXA) had its price target increased by equities research analysts at Wells Fargo & Company from $46.00 to $49.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 12.46% from the stock’s current price.

FOXA has been the subject of a number of other reports. Barclays upped their target price on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Loop Capital upped their price objective on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley raised their target price on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday. Cfra reissued a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, FOX has a consensus rating of “Hold” and an average price target of $42.08.

FOX Stock Performance

FOX stock traded up $0.57 during midday trading on Tuesday, reaching $43.57. 370,234 shares of the company traded hands, compared to its average volume of 2,949,524. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. FOX has a 12 month low of $28.28 and a 12 month high of $45.82. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. The business has a 50 day moving average of $41.39 and a two-hundred day moving average of $37.34.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. FOX’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 earnings per share. As a group, research analysts predict that FOX will post 3.69 earnings per share for the current year.

Insider Activity

In other news, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was 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 directly owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of FOX by 31.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock worth $15,523,000 after acquiring an additional 117,458 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of FOX by 25.2% during the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after purchasing an additional 28,072 shares during the period. UniSuper Management Pty Ltd grew its holdings in shares of FOX by 565.6% in the first quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock worth $745,000 after purchasing an additional 20,250 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in FOX in the 1st quarter worth about $609,000. Finally, SG Americas Securities LLC lifted its holdings in FOX by 89.6% during the 1st quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock valued at $1,575,000 after buying an additional 23,791 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

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.