FOX (NASDAQ:FOXA) Stock Rating Upgraded by Wolfe Research

FOX (NASDAQ:FOXA - Get Free Report) was upgraded by equities researchers at Wolfe Research from an "underperform" rating to a "peer perform" rating in a research report issued on Wednesday, MarketBeat reports.

Other analysts have also recently issued research reports about the stock. Guggenheim reiterated a "buy" rating and issued a $62.00 price objective (up previously from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Cowen reaffirmed a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Cfra Research downgraded FOX from a "moderate buy" rating to a "hold" rating in a research report on Friday, June 27th. Loop Capital lifted their price target on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Barclays reissued an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $53.53.

FOX Stock Performance

FOXA traded up $0.12 during trading on Wednesday, hitting $55.21. The stock had a trading volume of 2,071,624 shares, compared to its average volume of 3,602,027. The firm has a market capitalization of $24.82 billion, a P/E ratio of 13.73, a PEG ratio of 1.23 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45. FOX has a twelve month low of $34.35 and a twelve month high of $58.74. The company's 50-day moving average price is $54.30 and its 200 day moving average price is $52.64.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the company posted $1.40 earnings per share. The firm's revenue for the quarter was up 26.8% on a year-over-year basis. On average, equities research analysts forecast that FOX will post 4.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares of the company's stock, valued at $7,415,316.51. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.77% of the stock is currently owned by company insiders.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of FOX during the 4th quarter valued at approximately $132,161,000. Assetmark Inc. raised its holdings in shares of FOX by 752.1% during the first quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock worth $110,464,000 after purchasing an additional 1,722,616 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of FOX in the 4th quarter valued at about $67,471,000. FMR LLC grew its position in shares of FOX by 240.2% during the 4th 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 during the last quarter. Finally, Federated Hermes Inc. raised its stake in FOX by 164,675.7% during the first 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 and hedge funds own 52.52% of the company's stock.

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.