Fox Corporation (NASDAQ:FOXA) Receives $71.80 Consensus Target Price from Brokerages

Shares of Fox Corporation (NASDAQ:FOXA) have been given an average rating of “Hold” by the seventeen ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $71.80.

A number of analysts have recently issued reports on FOXA shares. Guggenheim increased their price objective on shares of FOX from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. JPMorgan Chase & Co. lifted their target price on shares of FOX from $65.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Evercore upped their target price on shares of FOX from $66.00 to $70.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of FOX in a research note on Monday, December 29th. Finally, TD Cowen raised their price target on FOX from $55.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, February 5th.

Insider Activity at FOX

In related news, CEO Lachlan K. Murdoch sold 637,752 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the transaction, the chief executive officer directly owned 152 shares of the company’s stock, valued at approximately $8,846.40. The trade was a 99.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Nallen sold 216,806 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $57.68, for a total value of $12,505,370.08. Following the completion of the transaction, the chief operating officer owned 362,206 shares of the company’s stock, valued at $20,892,042.08. The trade was a 37.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,586,871 shares of company stock worth $91,893,926 in the last three months. 19.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PFA Pension Forsikringsaktieselskab bought a new stake in FOX in the 4th quarter valued at $67,467,000. Ameriprise Financial Inc. lifted its stake in FOX by 72.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after purchasing an additional 762,645 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of FOX by 624.5% during the 2nd quarter. Lazard Asset Management LLC now owns 281,126 shares of the company’s stock valued at $15,753,000 after purchasing an additional 242,321 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of FOX by 150.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 377,731 shares of the company’s stock valued at $27,601,000 after purchasing an additional 227,209 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of FOX by 415.7% during the second quarter. Marshall Wace LLP now owns 230,570 shares of the company’s stock valued at $12,921,000 after purchasing an additional 185,859 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Trading Up 1.4%

Shares of NASDAQ:FOXA opened at $58.30 on Friday. The stock has a 50 day moving average of $64.23 and a 200 day moving average of $64.48. The company has a market cap of $24.80 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 7.51 and a beta of 0.55. FOX has a 12-month low of $46.42 and a 12-month high of $76.39. The company has a current ratio of 2.78, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOXA) last released its earnings results on Wednesday, February 4th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.35. FOX had a net margin of 11.41% and a return on equity of 18.14%. The company had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the business earned $0.96 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts expect that FOX will post 4.38 EPS for the current year.

FOX Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, March 4th. This represents a dividend yield of 83.0%. FOX’s dividend payout ratio (DPR) is currently 13.46%.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.