Fox Co. (NASDAQ:FOXA) Receives $44.00 Average Target Price from Brokerages

Fox Co. (NASDAQ:FOXA - Get Free Report) has received a consensus recommendation of "Hold" from the eighteen research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $46.47.

Several analysts have recently issued reports on FOXA shares. StockNews.com lowered shares of FOX from a "buy" rating to a "hold" rating in a research report on Tuesday. Evercore ISI upgraded shares of FOX to a "hold" rating in a research note on Tuesday, November 5th. Bank of America increased their price target on shares of FOX from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday. Seaport Res Ptn lowered shares of FOX from a "strong-buy" rating to a "hold" rating in a report on Monday, September 9th. Finally, TD Cowen increased their price target on shares of FOX from $36.00 to $42.00 and gave the stock a "hold" rating in a report on Tuesday, November 5th.

Insiders Place Their Bets

In related news, COO John Nallen sold 182,481 shares of FOX stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 469,352 shares of company stock valued at $20,822,072. Corporate insiders own 21.77% of the company's stock.

Hedge Funds Weigh In On FOX

Several large investors have recently made changes to their positions in FOXA. Pacer Advisors Inc. lifted its position in shares of FOX by 44,205.3% in the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company's stock valued at $335,066,000 after acquiring an additional 7,897,710 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of FOX by 228.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company's stock valued at $58,716,000 after acquiring an additional 964,737 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of FOX by 1,727.2% in the second 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 in the last quarter. AXA S.A. lifted its position in shares of FOX by 294.2% in the second quarter. AXA S.A. now owns 888,476 shares of the company's stock valued at $30,537,000 after acquiring an additional 663,089 shares in the last quarter. Finally, Independent Franchise Partners LLP lifted its position in shares of FOX by 3.3% in the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company's stock valued at $635,706,000 after acquiring an additional 597,450 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Stock Up 0.7 %

Shares of FOXA traded up $0.36 during trading hours on Wednesday, reaching $49.43. 7,931,665 shares of the stock traded hands, compared to its average volume of 3,133,765. The company has a market cap of $22.58 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.18 and a beta of 0.77. 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 52 week low of $28.28 and a 52 week high of $50.63. The stock has a fifty day simple moving average of $44.68 and a 200 day simple moving average of $40.33.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. On average, equities analysts forecast that FOX will post 3.94 EPS for the current year.

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.