FOX (NASDAQ:FOXA) Sets New 1-Year High After Analyst Upgrade

Fox Co. (NASDAQ:FOXA) reached a new 52-week high during trading on Friday after UBS Group raised their price target on the stock from $50.00 to $63.00. UBS Group currently has a buy rating on the stock. FOX traded as high as $55.82 and last traded at $55.61, with a volume of 270477 shares changing hands. The stock had previously closed at $55.45.

A number of other analysts have also recently commented on FOXA. Macquarie reaffirmed a “neutral” rating and issued a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. Loop Capital upped their target price on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley raised their price objective on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, StockNews.com lowered FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $51.00.

Insider Transactions at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. WealthTrak Capital Management LLC acquired a new stake in FOX in the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. raised its stake in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after buying an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of FOX during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp raised its stake in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

The stock has a market capitalization of $25.41 billion, a P/E ratio of 11.91, a PEG ratio of 1.17 and a beta of 0.76. The stock’s 50-day simple moving average is $49.65 and its 200 day simple moving average is $44.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. Research analysts expect that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio (DPR) is presently 11.56%.

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.