Brokerages Set Fox Co. (NASDAQ:FOXA) Target Price at $50.65

Shares of Fox Co. (NASDAQ:FOXA - Get Free Report) have been given an average recommendation of "Hold" by the nineteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $50.65.

Several equities analysts have issued reports on the stock. Barclays lowered their target price on shares of FOX from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their price target on FOX from $63.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. increased their target price on FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Loop Capital upped their price target on shares of FOX from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. Finally, The Goldman Sachs Group set a $60.00 target price on shares of FOX and gave the company a "buy" rating in a research report on Tuesday, February 4th.

FOX Trading Up 0.7 %

Shares of NASDAQ FOXA traded up $0.33 during midday trading on Tuesday, hitting $49.35. 2,770,689 shares of the company traded hands, compared to its average volume of 3,399,352. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. FOX has a 12-month low of $30.92 and a 12-month high of $58.74. The stock has a 50-day moving average price of $52.81 and a 200 day moving average price of $49.30. The firm has a market cap of $22.38 billion, a P/E ratio of 10.57, a P/E/G ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm earned $0.34 EPS. The company's revenue was up 19.9% compared to the same quarter last year. As a group, analysts expect that FOX will post 4.38 earnings per share for the current year.

FOX Announces Dividend

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

Insiders Place Their Bets

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction 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 in the company, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOXA. Norges Bank purchased a new position in FOX during the fourth quarter worth about $132,161,000. Jupiter Asset Management Ltd. acquired a new stake in shares of FOX in the 4th quarter valued at approximately $67,471,000. FMR LLC boosted its stake in shares of FOX by 240.2% in the fourth quarter. FMR LLC now owns 1,884,927 shares of the company's stock valued at $91,570,000 after buying an additional 1,330,908 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in FOX by 308.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company's stock worth $59,174,000 after acquiring an additional 919,883 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of FOX by 3,077.5% during the 4th quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company's stock worth $43,016,000 after purchasing an additional 857,609 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.