Macquarie Boosts FOX (NASDAQ:FOXA) Price Target to $35.00

FOX (NASDAQ:FOXA) had its price target hoisted by Macquarie from $32.00 to $35.00 in a research report released on Monday, Benzinga reports. Macquarie currently has a neutral rating on the stock.

A number of other analysts have also commented on the company. Rosenblatt Securities boosted their target price on FOX from $37.00 to $38.00 and gave the company a neutral rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on FOX from $36.00 to $38.00 and gave the company a neutral rating in a research note on Wednesday, August 7th. Bank of America upgraded FOX from a neutral rating to a buy rating and lifted their price target for the company from $34.00 to $40.00 in a research note on Thursday, May 9th. Evercore ISI lifted their price target on FOX from $33.00 to $38.00 and gave the company an in-line rating in a research note on Wednesday, August 7th. Finally, Barclays boosted their target price on FOX from $33.00 to $36.00 and gave the stock an equal weight rating in a research note on Monday, May 13th. One research 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. According to data from MarketBeat, FOX has a consensus rating of Hold and a consensus target price of $36.85.

FOX Stock Down 0.2 %

Shares of NASDAQ:FOXA opened at $38.99 on Monday. The firm has a market cap of $18.20 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.51 and a beta of 0.77. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. FOX has a 12-month low of $28.28 and a 12-month high of $39.81. The business has a fifty day simple moving average of $35.99 and a 200 day simple moving average of $32.92.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.07. FOX had a return on equity of 15.90% and a net margin of 11.19%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company earned $0.88 EPS. FOX’s revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts predict that FOX will post 3.33 earnings per share for the current 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 paid a $0.27 dividend. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a yield of 1.4%. FOX’s dividend payout ratio is presently 16.93%.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was 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 the SEC website. 21.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On FOX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV raised its holdings in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after acquiring an additional 461 shares during the period. UMB Bank n.a. raised its holdings in FOX by 254.4% during the 1st quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after acquiring an additional 809 shares during the period. Global Retirement Partners LLC raised its holdings in FOX by 38.4% during the 1st quarter. Global Retirement Partners LLC now owns 1,305 shares of the company’s stock valued at $41,000 after acquiring an additional 362 shares during the period. Altshuler Shaham Ltd bought a new stake in FOX during the 4th quarter valued at $43,000. Finally, Friedenthal Financial bought a new stake in FOX during the 2nd quarter valued at $51,000. Institutional investors 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.