Wells Fargo & Company Cuts FOX (NASDAQ:FOXA) Price Target to $63.00

FOX (NASDAQ:FOXA - Get Free Report) had its price target decreased by Wells Fargo & Company from $64.00 to $63.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 15.11% from the stock's previous close.

FOXA has been the subject of a number of other reports. Moffett Nathanson lowered shares of FOX from a "buy" rating to a "neutral" rating and increased their price objective for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Bank of America raised their target price on shares of FOX from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. increased their price objective on shares of FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 target price on FOX and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, UBS Group lifted their price objective on FOX from $50.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $51.13.

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FOX Price Performance

Shares of FOXA traded down $0.19 during trading hours on Wednesday, reaching $54.73. 3,149,344 shares of the stock traded hands, compared to its average volume of 3,259,979. The company has a market cap of $24.82 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The company's 50-day moving average price is $53.69 and its two-hundred day moving average price is $48.03. FOX has a 52-week low of $30.02 and a 52-week high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 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 business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The business's revenue was up 19.9% on a year-over-year basis. On average, analysts anticipate that FOX will post 4.38 earnings per share for the current year.

Insider Activity at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares of the company's stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Institutional Trading of FOX

A number of large investors have recently modified their holdings of the company. WealthTrak Capital Management LLC purchased a new stake in shares of FOX in the 4th quarter worth $26,000. SRS Capital Advisors Inc. lifted its stake in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock worth $27,000 after acquiring an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in FOX during the 4th quarter worth about $28,000. Jones Financial Companies Lllp increased its position in FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after purchasing an additional 249 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

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.