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

Fox Co. (NASDAQ:FOXA) has been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $35.38.

A number of analysts recently commented on FOXA shares. Barclays upped their price objective on FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, May 13th. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Macquarie upped their price objective on FOX from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Bank of America upgraded FOX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $40.00 in a research report on Thursday, May 9th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $34.00 price objective on shares of FOX in a research report on Monday, April 15th.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 13,176 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $30.89, for a total value 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 $43,519,747.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Keith Rupert Murdoch sold 13,176 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was 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 directly owns 1,408,862 shares of the company’s stock, valued at $43,519,747.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven Tomsic sold 30,000 shares of the 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 transaction, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wright Investors Service Inc. bought a new stake in FOX during the 2nd quarter valued at $353,000. Allspring Global Investments Holdings LLC increased its holdings in shares of FOX by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 987,444 shares of the company’s stock valued at $33,938,000 after acquiring an additional 12,321 shares during the period. Verdence Capital Advisors LLC increased its holdings in shares of FOX by 3.5% in the 2nd quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company’s stock valued at $461,000 after acquiring an additional 458 shares during the period. Raymond James Trust N.A. increased its holdings in shares of FOX by 4.4% in the 2nd quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock valued at $333,000 after acquiring an additional 406 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in shares of FOX by 1,727.2% in the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after acquiring an additional 912,250 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Stock Up 1.2 %

FOXA stock opened at $37.51 on Friday. FOX has a 1-year low of $28.28 and a 1-year high of $37.95. The business has a fifty day moving average price of $34.70 and a 200-day moving average price of $32.22. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. The stock has a market capitalization of $17.51 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.47 and a beta of 0.77.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.11. FOX had a return on equity of 15.90% and a net margin of 11.19%. The firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Equities analysts forecast that FOX will post 3.35 earnings per share for the current fiscal year.

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.