Brokerages Set Fox Co. (NASDAQ:FOXA) Price Target at $44.00

Fox Co. (NASDAQ:FOXA) has been assigned an average rating of “Hold” from the eighteen analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $44.00.

FOXA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Rosenblatt Securities boosted their price target 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. Bank of America increased their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Cfra reaffirmed a “sell” rating on shares of FOX in a report on Wednesday, September 25th.

FOX Trading Down 1.6 %

Shares of FOX stock opened at $46.08 on Friday. FOX has a twelve month low of $28.28 and a twelve month high of $47.58. The firm’s 50-day moving average price is $43.00 and its 200 day moving average price is $38.81. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $21.05 billion, a PE ratio of 11.27, a P/E/G ratio of 1.20 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the business posted $1.09 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts predict that FOX will post 3.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently bought and sold shares of FOXA. Massmutual Trust Co. FSB ADV lifted its position in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares in the last quarter. Friedenthal Financial acquired a new stake in FOX during the 2nd quarter worth approximately $51,000. Quest Partners LLC purchased a new position in FOX in the 3rd quarter valued at approximately $51,000. Duncker Streett & Co. Inc. acquired a new position in shares of FOX in the second quarter worth $52,000. Finally, Quarry LP purchased a new stake in shares of FOX during the third quarter worth $70,000. 52.52% of the stock is currently 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 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.