Fox Co. (NASDAQ:FOXA) Receives $51.13 Consensus Target Price from Brokerages

Fox Co. (NASDAQ:FOXA) has been assigned a consensus recommendation of “Hold” from the eighteen brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $51.13.

A number of analysts have commented on FOXA shares. Bank of America upped their target price on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. UBS Group upped their price objective on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Wells Fargo & Company reduced their price target on FOX from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. lifted their price objective on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th.

Insider Buying and Selling at FOX

In other 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 sale, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of large investors have recently made changes to their positions in the business. California State Teachers Retirement System grew its position in FOX by 4.2% in the fourth quarter. California State Teachers Retirement System now owns 307,111 shares of the company’s stock worth $14,919,000 after acquiring an additional 12,251 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of FOX by 7.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,468 shares of the company’s stock valued at $509,000 after purchasing an additional 754 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new position in shares of FOX in the 4th quarter worth approximately $987,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of FOX during the 4th quarter valued at approximately $7,855,000. Finally, Jefferies Financial Group Inc. purchased a new stake in FOX during the 4th quarter valued at $1,404,000. 52.52% of the stock is currently owned by institutional investors.

FOX Stock Performance

Shares of FOXA opened at $54.73 on Friday. The firm has a market capitalization of $24.82 billion, a P/E ratio of 11.72, a PEG ratio of 1.27 and a beta of 0.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. FOX has a one year low of $30.02 and a one year high of $58.74. The business has a fifty day moving average of $53.69 and a 200 day moving average of $48.10.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted $0.34 EPS. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that FOX will post 4.38 EPS for the current year.

FOX Dividend Announcement

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

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.