FOX (NASDAQ:FOXA) Given New $41.00 Price Target at JPMorgan Chase & Co.

FOX (NASDAQ:FOXA) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $38.00 to $41.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 2.73% from the stock’s previous close.

Several other research firms also recently commented on FOXA. Rosenblatt Securities boosted their target price on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Macquarie upped their price objective on shares of FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Evercore ISI upped their price objective on shares of FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a report 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 cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $39.64.

FOX Price Performance

Shares of NASDAQ FOXA traded down $0.17 during midday trading on Wednesday, reaching $42.15. The company’s stock had a trading volume of 945,912 shares, compared to its average volume of 3,057,068. 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 company has a 50 day moving average price of $39.40 and a 200 day moving average price of $34.99. FOX has a one year low of $28.28 and a one year high of $42.44. The company has a market cap of $19.40 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (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 business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the business earned $0.88 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that FOX will post 3.72 EPS for the current year.

Insider Activity at FOX

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

Institutional Trading of FOX

Several large investors have recently modified their holdings of FOXA. Hsbc Holdings PLC lifted its holdings in shares of FOX by 99.9% in the 4th quarter. Hsbc Holdings PLC now owns 652,921 shares of the company’s stock worth $19,339,000 after purchasing an additional 326,254 shares in the last quarter. TD Asset Management Inc lifted its stake in FOX by 128.0% during the 4th quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock valued at $68,068,000 after acquiring an additional 1,287,911 shares in the last quarter. TFO Wealth Partners LLC lifted its stake in FOX by 69,383.3% during the 4th quarter. TFO Wealth Partners LLC now owns 8,338 shares of the company’s stock valued at $247,000 after acquiring an additional 8,326 shares in the last quarter. Partners Capital Investment Group LLP lifted its stake in FOX by 2.9% during the 4th quarter. Partners Capital Investment Group LLP now owns 355,500 shares of the company’s stock valued at $10,548,000 after acquiring an additional 9,859 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its stake in shares of FOX by 219.1% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 67,333 shares of the company’s stock worth $1,998,000 after purchasing an additional 46,233 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

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.