Fox Co. (NASDAQ:FOXA) Given Consensus Rating of “Hold” by Analysts

Shares of Fox Co. (NASDAQ:FOXA) have earned an average recommendation of “Hold” from the eighteen analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $46.87.

FOXA has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. 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. UBS Group lifted their price target on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Loop Capital increased their price objective on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their target price on shares of FOX from $51.00 to $57.00 and gave the company a “buy” rating in a report on Thursday.

FOX Trading Up 1.4 %

NASDAQ FOXA opened at $49.53 on Wednesday. The stock has a market cap of $22.62 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $50.63. The stock has a 50 day simple moving average of $45.14 and a two-hundred day simple moving average of $40.59. 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 (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping 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 company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, analysts forecast that FOX will post 3.94 earnings per share for the current year.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 469,352 shares of company stock valued at $20,822,072. 21.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its position in FOX by 44,205.3% in the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after purchasing an additional 7,897,710 shares during the period. Jacobs Levy Equity Management Inc. boosted 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 worth $58,716,000 after buying an additional 964,737 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of FOX by 1,727.2% in the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after acquiring an additional 912,250 shares during the period. AXA S.A. increased its position in FOX by 294.2% during the second 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 during the last quarter. Finally, Independent Franchise Partners LLP lifted its holdings in FOX by 3.3% in the second 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 during the period. 52.52% of the stock is owned by hedge funds and other 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.