FOX (NASDAQ:FOXA) Stock Moved Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of FOX (NASDAQ:FOXA) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks reports.

Several other brokerages have also recently weighed in on FOXA. Wolfe Research upgraded FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 target price for the company in a report on Tuesday, June 30th. Weiss Ratings upgraded FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Wells Fargo & Company raised FOX from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $65.00 to $80.00 in a research note on Friday, August 14th. Raymond James Financial raised FOX to a “strong-buy” rating in a research note on Friday. Finally, Guggenheim reiterated a “buy” rating and issued a $85.00 price objective on shares of FOX in a research report on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.12.

FOX Stock Performance

NASDAQ FOXA opened at $67.00 on Monday. The company has a 50-day simple moving average of $65.39 and a two-hundred day simple moving average of $62.06. FOX has a 12-month low of $48.34 and a 12-month high of $76.39. The firm has a market cap of $28.12 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.14 and a beta of 0.60. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.44 by $0.35. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. The company’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 earnings per share. On average, equities analysts forecast that FOX will post 6.06 EPS for the current year.

FOX Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were paid a dividend of $0.29 per share. This represents a dividend yield of 86.0%. The ex-dividend date of this dividend was Wednesday, September 2nd. FOX’s dividend payout ratio is 15.14%.

Insider Activity at FOX

In other news, CEO Lachlan Murdoch bought 149,934 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the acquisition, the chief executive officer owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This trade represents a 11.98% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 20.89% of the company’s stock.

Institutional Trading of FOX

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in FOX by 20.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after purchasing an additional 251 shares during the period. Greenleaf Trust raised its position in FOX by 4.4% during the 2nd quarter. Greenleaf Trust now owns 6,295 shares of the company’s stock valued at $328,000 after purchasing an additional 267 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in FOX by 1.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 35,335 shares of the company’s stock valued at $1,843,000 after purchasing an additional 389 shares during the last quarter. Wilkerson Advisory Group LLC lifted its holdings in FOX by 50.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock worth $84,000 after buying an additional 482 shares during the period. Finally, Advus Financial Partners LLC lifted its holdings in FOX by 11.5% in the 2nd quarter. Advus Financial Partners LLC now owns 4,744 shares of the company’s stock worth $247,000 after buying an additional 489 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Company Profile

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.