FOX (NASDAQ:FOXA) Given New $65.00 Price Target at Bank of America

FOX (NASDAQ:FOXA - Free Report) had its price target upped by Bank of America from $60.00 to $65.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on the stock. UBS Group upped their price target on shares of FOX from $61.00 to $63.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Guggenheim reiterated a "buy" rating and issued a $60.00 price target on shares of FOX in a research note on Tuesday, March 25th. Wells Fargo & Company upped their price target on shares of FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Wolfe Research lowered shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price target on the stock. in a research note on Monday, April 7th. Finally, Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $53.53.

FOX Stock Performance

Shares of FOX stock traded up $0.11 during trading on Wednesday, hitting $56.79. 3,737,562 shares of the stock were exchanged, compared to its average volume of 3,575,409. The stock has a market capitalization of $25.53 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.51. The company has a fifty day moving average price of $53.34 and a 200-day moving average price of $52.24. FOX has a 1-year low of $33.84 and a 1-year high of $58.74. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.17. FOX had a net margin of 11.58% and a return on equity of 17.99%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the business earned $1.40 EPS. FOX's quarterly revenue was up 26.8% on a year-over-year basis. As a group, equities analysts predict that FOX will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling at FOX

In other news, CFO Steven Tomsic sold 39,642 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the completion of the sale, the chief financial officer now owns 133,923 shares of the company's stock, valued at approximately $7,405,941.90. This represents a 22.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 21.77% of the company's stock.

Institutional Trading of FOX

A number of institutional investors and hedge funds have recently made changes to their positions in FOXA. Norges Bank bought a new stake in shares of FOX during the 4th quarter worth approximately $132,161,000. Assetmark Inc. lifted its holdings in shares of FOX by 752.1% during the 1st quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock worth $110,464,000 after acquiring an additional 1,722,616 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of FOX during the 4th quarter worth approximately $67,471,000. FMR LLC lifted its holdings in shares of FOX by 240.2% during the 4th quarter. FMR LLC now owns 1,884,927 shares of the company's stock worth $91,570,000 after acquiring an additional 1,330,908 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of FOX by 164,675.7% during the 1st quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company's stock worth $71,066,000 after acquiring an additional 1,254,829 shares during the period. Institutional investors own 52.52% of the company's stock.

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.