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

FOX (NASDAQ:FOXA) had its target price upped by Guggenheim from $45.00 to $50.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on FOXA. TD Cowen raised their price objective on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday. Morgan Stanley raised their price target on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Barclays boosted their price objective on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Evercore ISI raised their target price on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company upped their price target on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.00.

FOX Trading Down 0.2 %

NASDAQ:FOXA opened at $44.60 on Tuesday. FOX has a 1 year low of $28.28 and a 1 year high of $45.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The stock has a fifty day moving average price of $41.66 and a two-hundred day moving average price of $37.62. The stock has a market capitalization of $20.53 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.95 and a beta of 0.76.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the business earned $1.09 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that FOX will post 3.7 earnings per share for the current fiscal year.

Insider Buying and Selling at FOX

In other 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 transaction of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO John Nallen sold 52,874 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 335,355 shares of company stock worth $14,244,865. Insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in FOX by 5.9% during the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after acquiring an additional 1,653,913 shares during the period. Retirement Systems of Alabama grew its holdings in shares of FOX by 1,727.2% during the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after purchasing an additional 912,250 shares during the period. AXA S.A. increased its position in FOX by 294.2% during the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after purchasing an additional 663,089 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in FOX by 3.3% in the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after buying an additional 597,450 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in FOX by 25.5% during 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 buying an additional 492,467 shares in the last quarter. 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.