FOX (NASDAQ:FOXA) Given New $62.00 Price Target at Loop Capital

FOX (NASDAQ:FOXA) had its price objective lifted by Loop Capital from $60.00 to $62.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Guggenheim reiterated a “buy” rating and issued a $60.00 price target on shares of FOX in a report on Tuesday, March 25th. UBS Group upped their target price on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Barclays lifted their price objective on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com cut shares of FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Bank of America boosted their price target on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $51.56.

FOX Price Performance

FOXA opened at $55.82 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $54.02 and a 200 day moving average of $48.33. FOX has a 52-week low of $30.02 and a 52-week high of $58.74. The stock has a market cap of $25.31 billion, a P/E ratio of 11.95, a PEG ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.62 by $0.34. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. As a group, sell-side analysts anticipate that FOX will post 4.38 EPS for the current year.

FOX Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were given a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX’s payout ratio is currently 11.56%.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade 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 insiders.

Hedge Funds Weigh In On FOX

Several institutional investors have recently made changes to their positions in FOXA. California State Teachers Retirement System raised its position in shares of FOX by 4.2% in the fourth quarter. California State Teachers Retirement System now owns 307,111 shares of the company’s stock worth $14,919,000 after acquiring an additional 12,251 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in FOX by 7.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,468 shares of the company’s stock worth $509,000 after purchasing an additional 754 shares during the period. Siemens Fonds Invest GmbH purchased a new position in FOX during the fourth quarter worth approximately $987,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in FOX in the fourth quarter valued at approximately $7,855,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of FOX in the fourth quarter valued at approximately $1,404,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.