FOX (NASDAQ:FOXA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

FOX (NASDAQ:FOXA - Get Free Report) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $42.00 to $49.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 0.37% from the company's current price.

FOXA has been the topic of a number of other reports. Morgan Stanley raised their price objective on shares of FOX from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price target on FOX from $42.00 to $47.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. StockNews.com downgraded FOX from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. TD Cowen lifted their price objective on shares of FOX from $36.00 to $42.00 and gave the company a "hold" rating in a report on Tuesday, November 5th. Finally, Macquarie restated a "neutral" rating and set a $43.00 target price on shares of FOX in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, FOX currently has an average rating of "Hold" and an average price target of $48.00.

FOX Trading Up 1.3 %

Shares of FOXA traded up $0.63 during trading hours on Tuesday, reaching $48.82. The stock had a trading volume of 4,287,773 shares, compared to its average volume of 2,839,322. The company has a market cap of $22.30 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.21 and a beta of 0.75. FOX has a 52 week low of $28.28 and a 52 week high of $50.63. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $47.41 and a 200 day moving average of $42.35.

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

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Nallen sold 182,481 shares of the firm's stock in a transaction dated 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. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock valued at $20,822,072 in the last three months. 21.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FOX

A number of hedge funds have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC grew its holdings in shares of FOX by 32.4% during the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company's stock worth $752,000 after purchasing an additional 3,787 shares in the last quarter. Kathmere Capital Management LLC grew its stake in FOX by 9.0% during the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company's stock worth $255,000 after buying an additional 431 shares in the last quarter. Brookstone Capital Management bought a new position in FOX in the 4th quarter valued at about $492,000. Czech National Bank raised its position in shares of FOX by 4.8% in the 4th quarter. Czech National Bank now owns 47,951 shares of the company's stock valued at $2,329,000 after buying an additional 2,189 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in FOX in the fourth quarter valued at approximately $1,427,000. 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.