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

Fox Co. (NASDAQ:FOXA) has been assigned a consensus rating of “Hold” from the eighteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $46.87.

A number of research analysts recently commented on the stock. Evercore ISI upgraded shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Cfra reaffirmed a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Finally, Bank of America upped their price target on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday.

Insider Activity at FOX

In related news, COO John Nallen sold 182,481 shares of the stock in a transaction dated Tuesday, November 5th. The stock was 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 of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its position in FOX by 108.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,488 shares of the company’s stock worth $429,000 after purchasing an additional 6,495 shares during the last quarter. Retirement Systems of Alabama raised its position in FOX by 1,727.2% during the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after acquiring an additional 912,250 shares in the last quarter. Raymond James Trust N.A. lifted its stake in FOX by 4.4% in the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock valued at $333,000 after acquiring an additional 406 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in FOX by 3.5% in the second quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company’s stock valued at $461,000 after acquiring an additional 458 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in FOX by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 987,444 shares of the company’s stock worth $33,938,000 after acquiring an additional 12,321 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Trading Up 1.4 %

NASDAQ:FOXA opened at $49.53 on Wednesday. The stock has a market cap of $22.62 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.18 and a beta of 0.77. 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 has a 1 year low of $28.28 and a 1 year high of $50.63. The business has a fifty day moving average of $45.14 and a 200-day moving average of $40.55.

FOX (NASDAQ:FOXA) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. Equities analysts predict that FOX will post 3.94 earnings per share for the current year.

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.