Fox Co. (NASDAQ:FOXA) Receives Average Rating of "Hold" from Brokerages

Fox Co. (NASDAQ:FOXA - Get Free Report) has earned a consensus recommendation of "Hold" from the twenty research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $52.71.

Several equities research analysts recently issued reports on FOXA shares. Cowen reiterated a "hold" rating on shares of FOX in a report on Tuesday. Morgan Stanley boosted their price objective on FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday. Wolfe Research downgraded FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price objective on the stock. in a report on Monday, April 7th. Wells Fargo & Company boosted their price objective on FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.77% of the company's stock.

Institutional Trading of FOX

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in shares of FOX by 0.4% in the 3rd quarter. Principal Financial Group Inc. now owns 291,051 shares of the company's stock valued at $12,320,000 after buying an additional 1,178 shares during the period. Czech National Bank increased its position in FOX by 4.8% during the fourth quarter. Czech National Bank now owns 47,951 shares of the company's stock worth $2,329,000 after buying an additional 2,189 shares in the last quarter. Brookstone Capital Management acquired a new position in FOX in the fourth quarter valued at $492,000. Kathmere Capital Management LLC grew its position in FOX by 9.0% during the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company's stock valued at $255,000 after acquiring an additional 431 shares during the period. Finally, Park Avenue Securities LLC grew its position in FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company's stock valued at $752,000 after acquiring an additional 3,787 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Price Performance

NASDAQ:FOXA opened at $56.08 on Friday. FOX has a 52 week low of $32.50 and a 52 week 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 company has a market capitalization of $25.43 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.27 and a beta of 0.51. The stock's fifty day moving average is $51.34 and its two-hundred day moving average is $50.28.

FOX (NASDAQ:FOXA - Get Free Report) last posted its 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 return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the business earned $1.40 earnings per share. The company's revenue for the quarter was up 26.8% on a year-over-year basis. Equities analysts expect that FOX will post 4.38 EPS for the current year.

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.

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