FOX (NASDAQ:FOXA) PT Raised to $50.00

FOX (NASDAQ:FOXA) had its target price lifted by Bank of America from $45.00 to $50.00 in a research report sent to investors on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on FOXA. Rosenblatt Securities boosted their target price on shares of FOX from $37.00 to $38.00 and gave the company a neutral rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on FOX from $38.00 to $41.00 and gave the stock a neutral rating in a report on Wednesday. Wells Fargo & Company raised FOX from an underweight rating to an overweight rating and increased their target price for the stock from $29.00 to $46.00 in a research report on Friday, August 16th. Macquarie boosted their price target on FOX from $32.00 to $35.00 and gave the company a neutral rating in a research report on Monday, August 12th. Finally, Guggenheim raised their price objective on FOX from $44.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, FOX currently has an average rating of Hold and an average target price of $39.64.

FOX Trading Down 0.1 %

Shares of FOX stock opened at $42.27 on Wednesday. The firm has a market cap of $19.73 billion, a PE ratio of 13.25, a P/E/G ratio of 1.85 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $42.63. The business’s fifty day moving average is $39.70 and its two-hundred day moving average is $35.18.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.07. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. Analysts anticipate that FOX will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a $0.27 dividend. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a yield of 1.4%. FOX’s dividend payout ratio (DPR) is 16.93%.

Insider Activity

In other news, 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 acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Hedge funds have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its holdings in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after buying an additional 461 shares during the last quarter. UMB Bank n.a. boosted its holdings in FOX by 254.4% in the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock worth $35,000 after purchasing an additional 809 shares during the period. Friedenthal Financial bought a new stake in FOX during the second quarter valued at $51,000. Duncker Streett & Co. Inc. bought a new position in shares of FOX in the 2nd quarter worth about $52,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of FOX in the 1st quarter valued at about $66,000. 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.