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

Fox Co. (NASDAQ:FOXA) has received an average rating of “Hold” from the eighteen ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $46.87.

A number of equities analysts have weighed in on FOXA shares. Citigroup upped their price target 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. Macquarie reiterated a “neutral” rating and issued a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on FOX from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Guggenheim increased their target price on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price target on FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th.

FOX Price Performance

NASDAQ FOXA opened at $49.99 on Wednesday. The business’s fifty day moving average is $45.30 and its 200 day moving average is $40.74. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $50.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The company has a market capitalization of $22.83 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. Sell-side analysts predict that FOX will post 3.94 earnings per share for the current year.

Insider Transactions at FOX

In related news, COO John Nallen sold 182,481 shares of the firm’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 completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $8,637,177.62. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock worth $20,822,072 in the last three months. Insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Several institutional investors have recently made changes to their positions in the company. Independent Franchise Partners LLP raised its position in FOX by 3.3% in the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after purchasing an additional 597,450 shares during the period. LSV Asset Management increased its stake in FOX by 5.9% in the 2nd quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock worth $294,816,000 after buying an additional 481,267 shares during the period. Pacer Advisors Inc. lifted its holdings in FOX by 44,205.3% during the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after buying an additional 7,897,710 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in FOX by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after buying an additional 268,778 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its stake in FOX by 25.5% in 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 in the last quarter. Institutional investors own 52.52% of the company’s stock.

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.