Fox Co. (NASDAQ:FOXA) Receives $35.38 Consensus Price Target from Brokerages

Fox Co. (NASDAQ:FOXA) has received an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $35.38.

Several equities analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of FOX in a report on Tuesday. They set a “buy” rating and a $42.00 target price on the stock. Barclays increased their target price on shares of FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, May 13th. Bank of America raised shares of FOX from a “neutral” rating to a “buy” rating and increased their target price for the company from $34.00 to $40.00 in a report on Thursday, May 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $34.00 target price on shares of FOX in a report on Monday, April 15th. Finally, Macquarie increased their target price on shares of FOX from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, May 13th.

FOX Stock Performance

FOX stock opened at $34.37 on Wednesday. The firm’s fifty day moving average price is $33.22 and its 200-day moving average price is $31.36. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.94 and a current ratio of 3.24. The stock has a market cap of $16.04 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 1.25 and a beta of 0.77. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $35.40.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.11. FOX had a net margin of 11.19% and a return on equity of 15.90%. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.44 billion. On average, equities research analysts expect that FOX will post 3.33 earnings per share for the current fiscal year.

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX 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 completion of the transaction, the chairman now directly owns 1,408,862 shares of the company’s stock, valued at approximately $43,519,747.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX 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 completion of the transaction, the chairman now directly owns 1,408,862 shares of the company’s stock, valued at approximately $43,519,747.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the transaction, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FOXA. Global Retirement Partners LLC raised its holdings in FOX by 862.2% in the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock worth $29,000 after buying an additional 845 shares during the last quarter. UMB Bank n.a. raised 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 buying an additional 809 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in FOX in the fourth quarter worth about $43,000. GAMMA Investing LLC purchased a new position in FOX in the fourth quarter worth about $53,000. Finally, Meeder Asset Management Inc. purchased a new position in FOX in the first quarter worth about $66,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.