FOX (NASDAQ:FOX – Get Free Report) was upgraded by research analysts at Citizens Jmp to a “strong-buy” rating in a research note issued on Monday, Zacks reports.
Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company raised shares of FOX from a “hold” rating to an “overweight” rating and set a $80.00 price objective on the stock in a research note on Friday, August 14th. Zacks Research cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 28th. Weiss Ratings raised shares of FOX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, September 10th. Wolfe Research set a $93.00 price target on shares of FOX in a research report on Thursday, August 20th. Finally, JPMorgan Chase & Co. raised shares of FOX from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $82.00 in a research note on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, FOX presently has an average rating of “Moderate Buy” and an average price target of $77.67.
Read Our Latest Analysis on FOX
FOX Stock Performance
FOX (NASDAQ:FOX – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. Sell-side analysts expect that FOX will post 5.99 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOX. Wedge Capital Management L L P NC purchased a new stake in shares of FOX during the second quarter worth about $35,047,000. Gamco Investors INC. ET AL lifted its stake in shares of FOX by 10.0% during the first quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock valued at $31,073,000 after buying an additional 53,166 shares during the period. Gabelli Funds LLC lifted its stake in shares of FOX by 2.3% during the first quarter. Gabelli Funds LLC now owns 579,800 shares of the company’s stock valued at $30,787,000 after buying an additional 13,200 shares during the period. F&V Capital Management LLC boosted its position in FOX by 31.0% during the second quarter. F&V Capital Management LLC now owns 373,105 shares of the company’s stock worth $17,476,000 after acquiring an additional 88,395 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in FOX by 3.2% during the first quarter. New York State Teachers Retirement System now owns 179,681 shares of the company’s stock worth $9,541,000 after acquiring an additional 5,504 shares during the last quarter. 26.41% of the stock is currently owned by hedge funds and other institutional investors.
About FOX
Fox Corporation (NASDAQ: FOX) is a U.S.-based media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. FOX retained a portfolio focused on news, sports, broadcast television and digital streaming.
The company’s principal businesses include Fox News Media, which operates Fox News Channel, Fox Business Network and related digital platforms; Fox Sports, which provides national and regional sports programming; and Fox Entertainment, which develops and distributes scripted and unscripted television content.
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