FOX (NASDAQ:FOXA) Stock Price Expected to Rise, TD Cowen Analyst Says

FOX (NASDAQ:FOXA - Free Report) had its price objective raised by TD Cowen from $36.00 to $42.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other analysts have also recently commented on the company. Morgan Stanley raised their target price on FOX from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday. Cfra reaffirmed a "sell" rating on shares of FOX in a research report on Wednesday, September 25th. Macquarie reaffirmed a "neutral" rating and issued a $43.00 target price on shares of FOX in a research report on Tuesday. The Goldman Sachs Group raised their target price on FOX from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on FOX from $42.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, FOX presently has an average rating of "Hold" and an average price target of $44.00.

FOX Price Performance

Shares of NASDAQ FOXA traded up $0.60 during mid-day trading on Tuesday, reaching $43.60. The company had a trading volume of 7,832,605 shares, compared to its average volume of 2,984,395. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The stock has a market cap of $20.07 billion, a PE ratio of 10.66, a P/E/G ratio of 1.90 and a beta of 0.76. The company has a 50-day moving average price of $41.44 and a two-hundred day moving average price of $37.42. FOX has a 1-year low of $28.28 and a 1-year high of $45.82.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.33. The business had revenue of $3.56 billion for the quarter, compared to analysts' expectations of $3.38 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 EPS. On average, equities analysts anticipate that FOX will post 3.69 earnings per share for the current year.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 52,874 shares of the business's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company's stock, valued at $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares of the company's stock, valued at $42,044,457.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 21.77% of the company's stock.

Hedge Funds Weigh In On FOX

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in FOX by 5.9% during the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company's stock valued at $934,354,000 after acquiring an additional 1,653,913 shares during the period. Retirement Systems of Alabama increased its stake in FOX by 1,727.2% during 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 during the period. AXA S.A. increased its stake in FOX by 294.2% during 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 during the period. Independent Franchise Partners LLP increased its stake in FOX by 3.3% during 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 during the period. Finally, D. E. Shaw & Co. Inc. increased its stake in FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company's stock valued at $83,208,000 after acquiring an additional 492,467 shares during the period. 52.52% of the stock is currently owned by institutional investors.

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.