Fox Co. (NASDAQ:FOXA) Receives $35.38 Consensus Price Target from Analysts

Fox Co. (NASDAQ:FOXA) has earned a consensus rating of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $35.38.

FOXA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of FOX from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Rosenblatt Securities restated a “neutral” rating and set a $34.00 price objective on shares of FOX in a research report on Monday, April 15th. Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Barclays lifted their price target on shares of FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, May 13th. Finally, Macquarie lifted their price target on shares of FOX from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, May 13th.

FOX Stock Performance

FOXA stock opened at $34.48 on Wednesday. The business’s fifty day moving average is $33.27 and its 200-day moving average is $31.42. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. The company has a market cap of $16.09 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 1.23 and a beta of 0.77. FOX has a twelve month low of $28.28 and a twelve month high of $35.40.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.11. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.44 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. Equities research analysts forecast that FOX will post 3.33 EPS for the current year.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 30,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the transaction, the chief financial officer now owns 110,568 shares in the company, valued at $3,788,059.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Steven Tomsic sold 30,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the transaction, the chief financial officer now owns 110,568 shares in the company, valued at $3,788,059.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the completion of the transaction, the chairman now owns 1,408,862 shares in the company, valued at approximately $43,519,747.18. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On FOX

Several institutional investors have recently made changes to their positions in FOXA. Norges Bank acquired a new position in shares of FOX during the fourth quarter valued at about $68,391,000. KBC Group NV raised its holdings in shares of FOX by 453.0% during the fourth quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock valued at $60,225,000 after purchasing an additional 1,662,748 shares during the period. Vanguard Group Inc. raised its holdings in shares of FOX by 5.9% during the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after purchasing an additional 1,653,913 shares during the period. TD Asset Management Inc raised its holdings in shares of FOX by 128.0% during the fourth quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock valued at $68,068,000 after purchasing an additional 1,287,911 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of FOX during the third quarter worth about $27,780,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.