JPMorgan Chase & Co. Forecasts Strong Price Appreciation for FOX (NASDAQ:FOXA) Stock

FOX (NASDAQ:FOXA - Free Report) had its price target raised by JPMorgan Chase & Co. from $49.00 to $54.00 in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on FOXA. Loop Capital upped their target price on shares of FOX from $48.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of FOX from $42.00 to $47.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Moffett Nathanson downgraded FOX from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. TD Cowen increased their price target on FOX from $36.00 to $42.00 and gave the company a "hold" rating in a research note on Tuesday, November 5th. Finally, StockNews.com downgraded FOX from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. One investment 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. According to data from MarketBeat, FOX has an average rating of "Hold" and a consensus price target of $50.19.

FOX Price Performance

Shares of NASDAQ FOXA traded down $0.45 during midday trading on Wednesday, reaching $52.79. The stock had a trading volume of 2,976,688 shares, compared to its average volume of 3,616,458. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.50. FOX has a 12-month low of $28.28 and a 12-month high of $55.56. The stock has a 50-day moving average of $49.03 and a 200-day moving average of $44.25. The company has a market capitalization of $24.11 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the company earned $0.34 EPS. The firm's quarterly revenue was up 19.9% on a year-over-year basis. As a group, research analysts anticipate that FOX will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a dividend yield of 1%. FOX's dividend payout ratio is presently 11.56%.

Insider Buying and Selling

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the company's 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 completion of the transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently modified their holdings of FOXA. JPMorgan Chase & Co. raised its position in FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company's stock valued at $47,649,000 after purchasing an additional 110,753 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of FOX in the third quarter valued at about $546,000. Invst LLC purchased a new stake in FOX in the third quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in FOX during the 3rd quarter worth about $2,867,000. Finally, Park Avenue Securities LLC increased its position in FOX by 32.4% during the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company's stock valued at $752,000 after purchasing an additional 3,787 shares during the period. Institutional investors own 52.52% of the company's stock.

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.