Fox Co. (NASDAQ:FOXA) Given Average Recommendation of “Hold” by Brokerages

Shares of Fox Co. (NASDAQ:FOXA) have earned a consensus rating of “Hold” from the eighteen analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $44.00.

Several research firms have commented on FOXA. Guggenheim upped their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Evercore ISI upgraded shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Macquarie restated a “neutral” rating and set a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. Finally, TD Cowen increased their target price on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th.

FOX Stock Performance

Shares of FOXA stock opened at $49.07 on Wednesday. The firm has a market cap of $22.41 billion, a PE ratio of 12.00, a P/E/G ratio of 1.18 and a beta of 0.77. FOX has a 12 month low of $28.28 and a 12 month high of $49.30. The company’s fifty day simple moving average is $44.68 and its 200-day simple moving average is $40.33. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

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

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. 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 ninety days. 21.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FOX

Hedge funds have recently modified their holdings of the company. Independent Franchise Partners LLP raised its position in 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 purchasing an additional 597,450 shares during the last quarter. LSV Asset Management increased its stake in shares of FOX by 5.9% in the second 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. Pacer Advisors Inc. raised its position in shares of FOX by 44,205.3% during the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after acquiring an additional 7,897,710 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of FOX by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock worth $129,180,000 after acquiring an additional 268,778 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings 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 valued at $83,208,000 after acquiring an additional 492,467 shares during the last quarter. 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.