FOX (NASDAQ:FOXA) Price Target Raised to $58.00 at Citigroup

FOX (NASDAQ:FOXA) had its price objective increased by Citigroup from $50.00 to $58.00 in a report released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

FOXA has been the topic of several other reports. Loop Capital increased their price target on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. UBS Group increased their price target on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Guggenheim raised their price objective on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.47.

FOX Stock Up 0.7 %

Shares of NASDAQ FOXA opened at $49.43 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. FOX has a 12-month low of $28.28 and a 12-month high of $50.63. The firm’s 50-day moving average price is $44.83 and its 200-day moving average price is $40.39. The stock has a market capitalization of $22.58 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.18 and a beta of 0.77.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, equities research analysts anticipate that FOX will post 3.94 EPS for the current fiscal year.

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FOX

Several institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in shares of FOX by 108.4% during the second quarter. Fifth Third Bancorp now owns 12,488 shares of the company’s stock worth $429,000 after buying an additional 6,495 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of FOX by 1,727.2% in the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after purchasing an additional 912,250 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of FOX by 4.4% in the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock valued at $333,000 after purchasing an additional 406 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in FOX by 3.5% during the second quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company’s stock worth $461,000 after buying an additional 458 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in FOX by 1.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 987,444 shares of the company’s stock worth $33,938,000 after buying an additional 12,321 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.