JPMorgan Chase & Co. Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its target price hoisted by JPMorgan Chase & Co. from $49.00 to $54.00 in a report issued on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other research analysts have also recently issued research reports about the stock. UBS Group upped their price target on shares of FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group upped their target price on FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Macquarie reiterated a “neutral” rating and set a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. Citigroup upped their price objective on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, FOX currently has a consensus rating of “Hold” and an average target price of $50.19.

FOX Stock Performance

Shares of FOXA opened at $54.53 on Wednesday. FOX has a 52-week low of $28.28 and a 52-week high of $55.56. The stock’s 50-day simple moving average is $48.63 and its 200 day simple moving average is $43.95. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The stock has a market capitalization of $24.91 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.34 earnings per share. Research analysts forecast that FOX will post 4.12 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio (DPR) is currently 13.20%.

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated 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 owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FOXA. SRS Capital Advisors Inc. grew its position in shares of FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after buying an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in FOX in the fourth quarter valued at $28,000. Brooklyn Investment Group increased its position in FOX by 142.5% during the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after purchasing an additional 466 shares during the period. Quest Partners LLC bought a new position in FOX in the 3rd quarter worth $51,000. Finally, Quarry LP bought a new position in FOX in the 3rd quarter worth $70,000. 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 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.