FOX (NASDAQ:FOXA) Upgraded at StockNews.com

StockNews.com upgraded shares of FOX (NASDAQ:FOXA) from a hold rating to a buy rating in a report released on Friday morning.

A number of other analysts have also recently weighed in on the stock. Macquarie restated a “neutral” rating and issued a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. The Goldman Sachs Group upped their price target on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company increased their target price on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Barclays increased their price target on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Finally, Bank of America increased their target price on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, FOX currently has a consensus rating of “Hold” and a consensus target price of $44.00.

FOX Trading Up 0.8 %

Shares of FOXA stock opened at $47.00 on Friday. FOX has a 1 year low of $28.28 and a 1 year high of $47.58. The firm has a market capitalization of $21.47 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77. The stock has a fifty day moving average of $43.96 and a two-hundred day moving average of $39.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts expect that FOX will post 3.94 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock worth $20,822,072 in the last ninety days. Insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in FOX by 108.4% during the third quarter. Franklin Resources Inc. now owns 177,342 shares of the company’s stock valued at $7,369,000 after purchasing an additional 92,244 shares in the last quarter. Tidal Investments LLC grew its position in FOX by 24.6% in the third quarter. Tidal Investments LLC now owns 33,672 shares of the company’s stock valued at $1,425,000 after acquiring an additional 6,658 shares during the period. World Investment Advisors LLC acquired a new position in FOX during the third quarter worth $3,587,000. Invst LLC bought a new position in shares of FOX during the third quarter valued at $740,000. Finally, Toronto Dominion Bank boosted its stake in shares of FOX by 11.8% in the 3rd quarter. Toronto Dominion Bank now owns 76,077 shares of the company’s stock valued at $3,220,000 after purchasing an additional 8,040 shares in the last quarter. Institutional investors and hedge funds 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.