JPMorgan Chase & Co. Forecasts Strong Price Appreciation for FOX (NASDAQ:FOXA) Stock

FOX (NASDAQ:FOXA) had its target price boosted by JPMorgan Chase & Co. from $49.00 to $54.00 in a research note issued to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

FOXA has been the subject of a number of other reports. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Guggenheim raised their price objective on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday. Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Morgan Stanley raised their price objective on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group raised their target price on FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, FOX currently has a consensus rating of “Hold” and a consensus target price of $50.19.

FOX Price Performance

FOX stock opened at $52.79 on Wednesday. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $24.11 billion, a PE ratio of 12.91, a P/E/G ratio of 1.25 and a beta of 0.76. FOX has a 12 month low of $28.28 and a 12 month high of $55.56. The stock has a 50-day moving average price of $48.92 and a two-hundred day moving average price of $44.09.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the company earned $0.34 earnings per share. The firm’s revenue was up 19.9% compared to the same quarter last year. Analysts expect that FOX will post 4.12 EPS for the current year.

FOX Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio (DPR) is currently 13.20%.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Institutional Trading of FOX

Hedge funds have recently made changes to their positions in the company. SRS Capital Advisors Inc. raised its stake in shares of FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after buying an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of FOX in the fourth quarter valued at $28,000. Jones Financial Companies Lllp raised its stake in shares of FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after buying an additional 249 shares during the period. Brooklyn Investment Group raised its stake in shares of FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after buying an additional 466 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of FOX in the third quarter valued at $51,000. 52.52% of the stock is currently owned by institutional investors.

FOX Company Profile

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.