FOX (NASDAQ:FOXA) Price Target Raised to $58.00

FOX (NASDAQ:FOXA - Free Report) had its price target upped by Citigroup from $50.00 to $58.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on FOXA. Morgan Stanley raised their price target on FOX from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. TD Cowen boosted their target price on shares of FOX from $36.00 to $42.00 and gave the stock a "hold" rating in a research report on Tuesday, November 5th. Guggenheim boosted their price objective on shares of FOX from $45.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their target price on FOX from $46.00 to $49.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Finally, Loop Capital boosted their price target on FOX from $43.00 to $46.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $46.47.

FOX Stock Up 0.7 %

Shares of NASDAQ:FOXA traded up $0.36 during trading on Wednesday, reaching $49.43. The stock had a trading volume of 7,955,929 shares, compared to its average volume of 3,133,865. The firm's 50-day simple moving average is $44.83 and its 200 day simple moving average is $40.39. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. FOX has a one year low of $28.28 and a one year high of $50.63. The company has a market capitalization of $22.58 billion, a P/E ratio of 12.09, a PEG ratio of 1.18 and a beta of 0.77.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share. As a group, research analysts expect that FOX will post 3.94 EPS for the current fiscal year.

Insider Buying and Selling at FOX

In other FOX news, COO John Nallen sold 182,481 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 469,352 shares of company stock valued at $20,822,072. Company insiders own 21.77% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FOXA. Quest Partners LLC purchased a new position in shares of FOX in the third quarter worth about $51,000. Duncker Streett & Co. Inc. acquired a new position in shares of FOX during the 2nd quarter worth approximately $52,000. Quarry LP purchased a new stake in shares of FOX in the third quarter valued at approximately $70,000. Transamerica Financial Advisors Inc. purchased a new position in FOX during the third quarter worth approximately $119,000. Finally, Exchange Traded Concepts LLC acquired a new position in FOX during the third quarter worth $141,000. 52.52% of the stock is owned by institutional investors and hedge funds.

About FOX

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.