FOX (NASDAQ:FOXA – Free Report) had its price objective upped by Deutsche Bank Aktiengesellschaft from $80.00 to $82.00 in a research report sent to investors on Tuesday morning. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.
Several other analysts have also commented on FOXA. Jefferies Financial Group lowered shares of FOX to a “hold” rating in a research report on Friday, October 16th. Needham & Company LLC started coverage on shares of FOX in a research report on Friday, October 16th. They issued a “buy” rating on the stock. Seaport Research Partners lowered shares of FOX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Bank of America raised shares of FOX from an “underperform” rating to a “buy” rating and increased their target price for the company from $54.00 to $85.00 in a research report on Friday, October 16th. Finally, Rothschild & Co Redburn upgraded shares of FOX from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.16.
Check Out Our Latest Stock Report on FOX
FOX Trading Down 2.8%
NASDAQ FOXA opened at $67.67 on Tuesday. The stock has a market cap of $28.40 billion, a PE ratio of 10.77, a PEG ratio of 1.15 and a beta of 0.63. FOX has a 12 month low of $48.34 and a 12 month high of $76.39. The company’s 50-day moving average price is $64.88 and its 200-day moving average price is $62.20. The company has a current ratio of 3.79, a quick ratio of 2.99 and a debt-to-equity ratio of 0.53.
FOX (NASDAQ:FOXA – Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.52. FOX had a return on equity of 23.96% and a net margin of 11.30%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the company posted $1.51 EPS. FOX’s revenue was up 22.3% on a year-over-year basis. Equities research analysts forecast that FOX will post 5.98 earnings per share for the current year.
Insider Buying and Selling
In related news, CEO Lachlan Murdoch bought 149,934 shares of the stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the purchase, the chief executive officer directly owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 20.89% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of FOXA. Squarepoint Ops LLC boosted its position in FOX by 12.4% in the 2nd quarter. Squarepoint Ops LLC now owns 1,127,389 shares of the company’s stock worth $58,805,000 after purchasing an additional 124,143 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of FOX by 2.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 966,811 shares of the company’s stock valued at $50,429,000 after purchasing an additional 24,511 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of FOX by 21.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 672,023 shares of the company’s stock valued at $41,182,000 after purchasing an additional 119,143 shares in the last quarter. Junto Capital Management LP purchased a new position in shares of FOX during the 2nd quarter valued at approximately $34,773,000. Finally, Aware Super Pty Ltd as trustee of Aware Super lifted its stake in shares of FOX by 0.8% in the 3rd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 522,079 shares of the company’s stock valued at $32,708,000 after purchasing an additional 4,381 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.
About FOX
Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.
FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.
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