FOX (NASDAQ:FOXA) Price Target Raised to $49.00

FOX (NASDAQ:FOXA) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $42.00 to $49.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 0.35% from the company’s previous close.

FOXA has been the subject of a number of other reports. Loop Capital raised their price objective on FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group increased their target price on FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Bank of America increased their target price on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. UBS Group increased their target price on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen increased their target price on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, FOX has a consensus rating of “Hold” and an average target price of $48.00.

FOX Price Performance

FOX stock traded up $0.98 on Tuesday, reaching $49.17. The company’s stock had a trading volume of 589,554 shares, compared to its average volume of 2,363,271. 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 twelve month low of $28.28 and a twelve month high of $50.63. The company has a market cap of $22.46 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.21 and a beta of 0.75. The business’s fifty day moving average price is $47.41 and its 200 day moving average price is $42.35.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating 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 business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Equities analysts expect that FOX will post 3.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 469,352 shares of company stock valued at $20,822,072. Company insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. grew its stake in FOX by 1.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock worth $991,000 after acquiring an additional 385 shares in the last quarter. Kathmere Capital Management LLC grew its stake in FOX by 9.0% in the 4th quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock worth $255,000 after acquiring an additional 431 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in FOX by 1.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock worth $1,249,000 after acquiring an additional 451 shares in the last quarter. US Bancorp DE grew its stake in FOX by 4.0% in the 3rd quarter. US Bancorp DE now owns 14,239 shares of the company’s stock worth $603,000 after acquiring an additional 550 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its stake in FOX by 14.7% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 4,445 shares of the company’s stock worth $188,000 after acquiring an additional 569 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

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.