Analysts Set Fox Co. (NASDAQ:FOXA) PT at $33.40

Shares of Fox Co. (NASDAQ:FOXA - Get Free Report) have been given a consensus recommendation of "Hold" by the eleven brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $33.40.

Several research firms have commented on FOXA. Wells Fargo & Company lowered their target price on shares of FOX from $30.00 to $28.00 and set an "underweight" rating for the company in a research note on Thursday, February 8th. Citigroup upgraded FOX from a "neutral" rating to a "buy" rating and increased their target price for the stock from $34.00 to $35.00 in a research report on Friday, February 23rd. Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a report on Thursday, January 4th. Macquarie increased their price objective on shares of FOX from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, February 8th. Finally, TheStreet cut shares of FOX from a "b-" rating to a "c" rating in a research report on Wednesday, February 7th.

FOX Price Performance

Shares of FOXA traded down $0.65 during trading hours on Friday, reaching $30.09. 2,349,184 shares of the company traded hands, compared to its average volume of 3,439,888. The stock has a market capitalization of $14.29 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.40 and a beta of 0.78. The stock has a fifty day simple moving average of $30.15 and a 200 day simple moving average of $30.39. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $35.40. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.24. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $4.21 billion. FOX had a net margin of 5.75% and a return on equity of 15.81%. The firm's revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. As a group, research analysts predict that FOX will post 3.28 EPS for the current fiscal year.

FOX Dividend Announcement

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a yield of 1.8%. FOX's dividend payout ratio (DPR) is 30.77%.

Institutional Investors Weigh In On FOX

Several large investors have recently made changes to their positions in FOXA. Empirical Finance LLC boosted its position in FOX by 3.8% during the 3rd quarter. Empirical Finance LLC now owns 10,212 shares of the company's stock worth $319,000 after purchasing an additional 372 shares during the period. Deane Retirement Strategies Inc. purchased a new stake in shares of FOX in the fourth quarter worth about $2,752,000. Federated Hermes Inc. grew its stake in shares of FOX by 3.9% in the third quarter. Federated Hermes Inc. now owns 33,935 shares of the company's stock valued at $1,059,000 after buying an additional 1,271 shares in the last quarter. Duality Advisers LP raised its holdings in shares of FOX by 273.1% during the 3rd quarter. Duality Advisers LP now owns 49,233 shares of the company's stock valued at $1,536,000 after buying an additional 36,038 shares during the period. Finally, AustralianSuper Pty Ltd lifted its position in FOX by 66.6% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company's stock worth $46,935,000 after acquiring an additional 632,522 shares in the last quarter. 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 Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.