FOX (NASDAQ:FOXA) Price Target Cut to $63.00 by Analysts at Wells Fargo & Company

FOX (NASDAQ:FOXA) had its price target cut by Wells Fargo & Company from $64.00 to $63.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also issued reports on FOXA. Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of FOX in a research note on Tuesday. Bank of America lifted their price target on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Citigroup upped their price objective on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Loop Capital boosted their price target on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, FOX has an average rating of “Hold” and a consensus target price of $51.13.

FOX Stock Up 0.5 %

FOXA stock opened at $55.21 on Wednesday. The stock has a 50-day simple moving average of $53.42 and a two-hundred day simple moving average of $47.83. FOX has a twelve month low of $30.02 and a twelve month high of $58.74. The firm has a market capitalization of $25.03 billion, a PE ratio of 11.82, a PEG ratio of 1.27 and a beta of 0.67. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. FOX’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, equities analysts predict that FOX will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently declared a semi-annual dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a yield of 1%. FOX’s payout ratio is currently 11.56%.

Insider Buying and Selling at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. The trade was a 4.61 % 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

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