Fox Corporation (NASDAQ:FOX) Stock Has Average Price Target of $77.67 According to Analysts

Shares of Fox Corporation (NASDAQ:FOX) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $77.67.

FOX has been the topic of several recent research reports. Citigroup assumed coverage on shares of FOX in a research note on Monday, September 14th. They set an “outperform” rating on the stock. Seaport Research Partners cut shares of FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Wells Fargo & Company upgraded shares of FOX from a “hold” rating to an “overweight” rating and set a $80.00 price target for the company in a research note on Friday, August 14th. Guggenheim reaffirmed a “buy” rating on shares of FOX in a research report on Tuesday, August 25th. Finally, JPMorgan Chase & Co. upgraded FOX from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $82.00 in a report on Friday, August 14th.

Insider Activity

In related news, CEO Lachlan Murdoch acquired 149,934 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the purchase, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. This represents a 11.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 23.06% of the company’s stock.

Institutional Trading of FOX

Hedge funds have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC acquired a new stake in FOX in the second quarter valued at $35,047,000. Gamco Investors INC. ET AL lifted its holdings in FOX by 10.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock worth $31,073,000 after buying an additional 53,166 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of FOX by 2.3% during the 1st quarter. Gabelli Funds LLC now owns 579,800 shares of the company’s stock worth $30,787,000 after acquiring an additional 13,200 shares in the last quarter. F&V Capital Management LLC increased its holdings in shares of FOX by 31.0% in the 2nd quarter. F&V Capital Management LLC now owns 373,105 shares of the company’s stock valued at $17,476,000 after acquiring an additional 88,395 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of FOX by 3.2% in the 1st quarter. New York State Teachers Retirement System now owns 179,681 shares of the company’s stock valued at $9,541,000 after acquiring an additional 5,504 shares during the last quarter. Institutional investors and hedge funds own 26.41% of the company’s stock.

FOX Stock Down 1.2%

Shares of NASDAQ:FOX opened at $56.54 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. The firm has a market capitalization of $23.73 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.48 and a beta of 0.58. The firm’s 50-day moving average is $57.06 and its two-hundred day moving average is $55.13. FOX has a 1 year low of $44.08 and a 1 year high of $68.18.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.35. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. Analysts predict that FOX will post 5.99 EPS for the current year.

FOX Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were given a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a yield of 96.0%. FOX’s dividend payout ratio (DPR) is currently 15.14%.

FOX Company Profile

Fox Corporation (NASDAQ: FOX) is a U.S.-based media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. FOX retained a portfolio focused on news, sports, broadcast television and digital streaming.

The company’s principal businesses include Fox News Media, which operates Fox News Channel, Fox Business Network and related digital platforms; Fox Sports, which provides national and regional sports programming; and Fox Entertainment, which develops and distributes scripted and unscripted television content.