Fox Co. (NASDAQ:FOXA) Given Average Rating of "Hold" by Brokerages

Fox Co. (NASDAQ:FOXA - Get Free Report) has been given an average recommendation of "Hold" by the twenty analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $52.71.

A number of equities research analysts have commented on the company. Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Morgan Stanley boosted their price objective on shares of FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. Guggenheim reaffirmed a "buy" rating and issued a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Wells Fargo & Company increased their target price on shares of FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Finally, UBS Group boosted 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.

FOX Trading Up 0.0%

NASDAQ:FOXA traded up $0.02 on Wednesday, hitting $54.68. The stock had a trading volume of 461,073 shares, compared to its average volume of 3,513,064. The company has a fifty day moving average price of $51.86 and a two-hundred day moving average price of $51.52. FOX has a 1-year low of $32.76 and a 1-year high of $58.74. 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 stock has a market cap of $24.59 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.93 by $0.17. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business's revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 EPS. Equities research analysts expect that FOX will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the completion of the transaction, the chief financial officer now owns 133,923 shares in the company, valued at $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FOX

A number of hedge funds and other institutional investors have recently modified their holdings of FOXA. Strs Ohio purchased a new position in FOX in the first quarter valued at $23,727,000. Acadian Asset Management LLC boosted its position in shares of FOX by 19,428.9% during the 1st quarter. Acadian Asset Management LLC now owns 179,080 shares of the company's stock worth $10,129,000 after acquiring an additional 178,163 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of FOX by 205.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company's stock valued at $52,000 after acquiring an additional 621 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of FOX by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,709,021 shares of the company's stock valued at $153,331,000 after acquiring an additional 32,144 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of FOX during the 1st quarter worth about $3,328,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.