Fox Co. (NASDAQ:FOXA) Receives $47.53 Average Target Price from Analysts

Shares of Fox Co. (NASDAQ:FOXA) have been assigned a consensus rating of “Hold” from the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $48.00.

A number of equities analysts recently commented on the company. UBS Group lifted their price target on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Evercore ISI upgraded FOX to a “hold” rating in a research note on Tuesday, November 5th. Macquarie restated a “neutral” rating and issued a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. Morgan Stanley lifted their price objective on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company increased their price objective on shares of FOX from $49.00 to $59.00 and gave the company an “underweight” rating in a research report on Friday, January 10th.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 469,352 shares of company stock valued at $20,822,072 over the last quarter. 21.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FOX

A number of hedge funds have recently made changes to their positions in FOXA. Pacer Advisors Inc. lifted its stake in FOX by 44,205.3% in the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after purchasing an additional 7,897,710 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of FOX by 228.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after acquiring an additional 964,737 shares during the last quarter. AXA S.A. boosted its holdings in shares of FOX by 294.2% during the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock valued at $30,537,000 after acquiring an additional 663,089 shares in the last quarter. Independent Franchise Partners LLP boosted its holdings in shares of FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after acquiring an additional 597,450 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in FOX by 25.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock worth $83,208,000 after acquiring an additional 492,467 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Up 1.3 %

NASDAQ:FOXA opened at $48.82 on Friday. The firm has a market capitalization of $22.30 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.21 and a beta of 0.75. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. FOX has a twelve month low of $28.28 and a twelve month high of $50.63. The stock’s 50 day moving average price is $47.51 and its two-hundred day moving average price is $42.45.

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

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.