Brokerages Set Fox Corporation (NASDAQ:FOXA) Price Target at $53.53

Shares of Fox Corporation (NASDAQ:FOXA - Get Free Report) have received an average rating of "Hold" from the twenty-one research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $53.53.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Morgan Stanley upped their target price 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. Loop Capital upped their target price on shares of FOX from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Wolfe Research cut shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 target price for the company. in a report on Monday, April 7th. Finally, Cfra Research cut shares of FOX from a "moderate buy" rating to a "hold" rating in a report on Friday, June 27th.

Insider Buying and Selling

In related news, CFO Steven Tomsic sold 5,607 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer owned 133,923 shares in the company, valued at $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FOX

Hedge funds and other institutional investors have recently modified their holdings of the stock. WealthTrak Capital Management LLC acquired a new stake in shares of FOX during the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. lifted its position in shares of FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after acquiring an additional 262 shares during the period. Hemington Wealth Management lifted its position in shares of FOX by 217.6% during the 1st quarter. Hemington Wealth Management now owns 524 shares of the company's stock valued at $29,000 after acquiring an additional 359 shares during the period. Jones Financial Companies Lllp lifted its position in shares of FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after acquiring an additional 249 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after acquiring an additional 368 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Performance

FOXA traded down $1.40 on Friday, reaching $54.85. The company had a trading volume of 3,074,538 shares, compared to its average volume of 3,604,808. FOX has a 1 year low of $34.35 and a 1 year high of $58.74. The stock has a market capitalization of $24.66 billion, a PE ratio of 13.64, a P/E/G ratio of 1.26 and a beta of 0.51. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $54.09 and a 200-day moving average price of $52.59.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share 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 firm had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.14 billion. During the same period in the previous year, the company earned $1.40 earnings per share. FOX's quarterly revenue was up 26.8% compared to the same quarter last year. As a group, research analysts forecast that FOX will post 4.38 EPS for the current fiscal 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.