FOX (NASDAQ:FOXA) Price Target Raised to $50.00

FOX (NASDAQ:FOXA - Free Report) had its target price boosted by UBS Group from $44.00 to $50.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on FOXA. Seaport Res Ptn downgraded FOX from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 9th. Morgan Stanley raised their target price on FOX from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday. The Goldman Sachs Group lifted their price target on FOX from $46.00 to $51.00 and gave the company a "buy" rating in a research report on Tuesday. Bank of America upped their price objective on FOX from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Finally, Macquarie reiterated a "neutral" rating and issued a $43.00 target price on shares of FOX in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, FOX has an average rating of "Hold" and an average price target of $44.00.

FOX Stock Performance

Shares of FOXA stock traded up $0.60 during mid-day trading on Tuesday, reaching $43.60. The stock had a trading volume of 7,832,605 shares, compared to its average volume of 2,984,395. FOX has a 1-year low of $28.28 and a 1-year high of $45.82. The firm has a market cap of $20.07 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.90 and a beta of 0.76. 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 business's fifty day moving average is $41.44 and its 200-day moving average is $37.42.

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

Insider Buying and Selling

In other FOX news, COO John Nallen sold 52,874 shares of the firm's stock in a transaction on 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 owns 249,424 shares in the company, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other FOX news, COO John Nallen sold 52,874 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were 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 of the company's stock, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised 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 worth $934,354,000 after purchasing an additional 1,653,913 shares during the period. Independent Franchise Partners LLP increased its holdings in shares of FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company's stock worth $635,706,000 after buying an additional 597,450 shares during the last quarter. LSV Asset Management raised its position in shares of FOX by 5.9% during the 2nd quarter. LSV Asset Management now owns 8,577,714 shares of the company's stock valued at $294,816,000 after buying an additional 481,267 shares during the period. Dimensional Fund Advisors LP lifted its holdings in FOX by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company's stock valued at $129,180,000 after acquiring an additional 268,778 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in FOX by 25.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company's stock worth $83,208,000 after acquiring an additional 492,467 shares during the period. Hedge funds and other 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.