FOX (NASDAQ:FOXA) Price Target Increased to $42.00 by Analysts at Deutsche Bank Aktiengesellschaft

FOX (NASDAQ:FOXA) had its target price raised by Deutsche Bank Aktiengesellschaft from $39.00 to $42.00 in a research note released on Wednesday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Bank of America raised shares of FOX from a neutral rating to a buy rating and boosted their target price for the stock from $34.00 to $40.00 in a research note on Thursday, May 9th. Macquarie boosted their target price on shares of FOX from $30.00 to $32.00 and gave the stock a neutral rating in a research note on Monday, May 13th. Evercore ISI boosted their target price on shares of FOX from $33.00 to $38.00 and gave the stock an in-line rating in a research note on Wednesday. The Goldman Sachs Group boosted their target price on shares of FOX from $42.00 to $44.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Rosenblatt Securities lifted their price target on shares of FOX from $37.00 to $38.00 and gave the stock a neutral rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, FOX currently has a consensus rating of Hold and an average price target of $36.62.

FOX Price Performance

FOXA stock traded up $0.03 during trading on Wednesday, hitting $39.33. 2,618,659 shares of the stock traded hands, compared to its average volume of 3,055,185. FOX has a one year low of $28.28 and a one year high of $39.81. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.51 and a beta of 0.77. The company has a 50 day simple moving average of $35.64 and a 200 day simple moving average of $32.73. The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. FOX had a net margin of 11.19% and a return on equity of 15.90%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. Equities analysts expect that FOX will post 3.33 EPS for the current fiscal year.

FOX Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. FOX’s payout ratio is currently 16.30%.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $43,519,747.18. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp raised its position in FOX by 31.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock worth $15,523,000 after acquiring an additional 117,458 shares in the last quarter. Quest Partners LLC bought a new stake in FOX during the fourth quarter worth $1,796,000. Jane Street Group LLC raised its position in FOX by 25.2% during the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock worth $4,362,000 after acquiring an additional 28,072 shares in the last quarter. Scout Investments Inc. raised its position in FOX by 102.0% during the fourth quarter. Scout Investments Inc. now owns 209,871 shares of the company’s stock worth $6,227,000 after acquiring an additional 105,960 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in FOX by 99.9% during the fourth quarter. Hsbc Holdings PLC now owns 652,921 shares of the company’s stock worth $19,339,000 after acquiring an additional 326,254 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 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.