FOX (NASDAQ:FOXA) Price Target Raised to $59.00

FOX (NASDAQ:FOXA - Free Report) had its price target upped by Wells Fargo & Company from $49.00 to $59.00 in a research note issued to investors on Friday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other analysts also recently commented on the company. StockNews.com downgraded FOX from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Evercore ISI upgraded shares of FOX to a "hold" rating in a research report on Tuesday, November 5th. Morgan Stanley increased their price objective on shares of FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Loop Capital upped their price target on shares of FOX from $48.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Finally, UBS Group raised their price objective on shares of FOX from $44.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Two investment 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $47.53.

FOX Stock Performance

Shares of FOXA stock traded down $0.78 during trading hours on Friday, reaching $48.19. 3,441,133 shares of the company's stock were exchanged, compared to its average volume of 2,700,622. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. FOX has a 1 year low of $28.28 and a 1 year high of $50.63. The company has a market cap of $22.01 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 1.21 and a beta of 0.75. The company's 50 day moving average is $47.18 and its two-hundred day moving average is $42.05.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. Equities research analysts anticipate that FOX will post 3.94 EPS for the current fiscal year.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 182,481 shares of the business'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 completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. 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 186,871 shares of FOX stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock worth $20,822,072 in the last quarter. 21.77% of the stock is owned by insiders.

Institutional Investors Weigh In On FOX

A number of large investors have recently modified their holdings of the stock. Quest Partners LLC purchased a new position in FOX in the 3rd quarter worth approximately $51,000. Quarry LP purchased a new position in shares of FOX in the third quarter valued at $70,000. Versant Capital Management Inc grew its holdings in FOX by 3,551.1% during the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company's stock valued at $83,000 after purchasing an additional 1,669 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in FOX during the 3rd quarter worth $119,000. Finally, Exchange Traded Concepts LLC purchased a new position in FOX in the 3rd quarter valued at about $141,000. Institutional investors and hedge funds 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.