Fox Co. (NASDAQ:FOXA) Given Consensus Recommendation of “Hold” by Brokerages

Fox Co. (NASDAQ:FOXA) has been assigned a consensus rating of “Hold” from the sixteen research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $41.46.

Several equities research analysts have weighed in on the company. Wells Fargo & Company upgraded FOX from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $29.00 to $46.00 in a report on Friday, August 16th. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on FOX from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Barclays increased their price objective on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, Evercore ISI increased their price objective on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th.

Insider Activity at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO John Nallen sold 52,874 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in shares of FOX by 0.4% in the 3rd quarter. Principal Financial Group Inc. now owns 291,051 shares of the company’s stock valued at $12,320,000 after buying an additional 1,178 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of FOX by 7.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 298,187 shares of the company’s stock valued at $12,622,000 after buying an additional 21,326 shares during the period. US Bancorp DE lifted its holdings in shares of FOX by 4.0% in the 3rd quarter. US Bancorp DE now owns 14,239 shares of the company’s stock valued at $603,000 after buying an additional 550 shares during the period. Asahi Life Asset Management CO. LTD. purchased a new position in FOX in the 3rd quarter valued at approximately $382,000. Finally, State of Alaska Department of Revenue increased its stake in FOX by 3.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 26,096 shares of the company’s stock valued at $1,104,000 after purchasing an additional 955 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Price Performance

Shares of NASDAQ FOXA opened at $41.88 on Tuesday. The stock’s 50-day moving average is $41.35 and its two-hundred day moving average is $37.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. FOX has a 1-year low of $28.28 and a 1-year high of $42.85. The company has a market cap of $19.27 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.07. FOX had a return on equity of 15.57% and a net margin of 10.74%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the business earned $0.88 EPS. FOX’s revenue was up 2.0% on a year-over-year basis. Analysts forecast that FOX will post 3.69 EPS for the current fiscal year.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.