FOX (NASDAQ:FOXA) Price Target Raised to $64.00 at Wells Fargo & Company

FOX (NASDAQ:FOXA - Free Report) had its target price lifted by Wells Fargo & Company from $59.00 to $64.00 in a research note published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on FOXA. Morgan Stanley lifted their price objective on FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. UBS Group upped their price target on FOX from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Barclays lifted their price objective on shares of FOX from $39.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Moffett Nathanson lowered FOX from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Finally, Guggenheim lifted their price target on shares of FOX from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $50.19.

FOX Stock Performance

FOXA stock traded down $0.45 during midday trading on Wednesday, hitting $52.79. 2,976,688 shares of the company traded hands, compared to its average volume of 3,616,458. The stock 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. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. FOX has a twelve month low of $28.28 and a twelve month high of $55.56. The business has a 50 day simple moving average of $49.03 and a 200-day simple moving average of $44.25.

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

FOX Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a dividend yield of 1%. FOX's payout ratio is 11.56%.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the business's stock in a transaction dated 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 $1,618,324.61. This represents a 4.10 % 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 institutional investors and hedge funds have recently made changes to their positions in the company. Algert Global LLC acquired a new position in FOX during the 2nd quarter worth approximately $362,000. Creative Planning raised its position in FOX by 119.2% in the second quarter. Creative Planning now owns 29,277 shares of the company's stock valued at $1,006,000 after purchasing an additional 15,921 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of FOX in the second quarter valued at approximately $962,000. Czech National Bank raised its holdings in FOX by 3.9% in the 3rd quarter. Czech National Bank now owns 45,762 shares of the company's stock valued at $1,937,000 after buying an additional 1,714 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in FOX by 65.1% during the 3rd quarter. GAMMA Investing LLC now owns 5,505 shares of the company's stock worth $233,000 after acquiring an additional 2,171 shares during the last quarter. 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.