Analysts Set Fox Corporation (NASDAQ:FOXA) PT at $75.07

Fox Corporation (NASDAQ:FOXA) has been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $75.0667.

FOXA has been the subject of several research reports. Barclays lifted their target price on FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, October 31st. Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Arete Research upgraded shares of FOX from a “neutral” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Tuesday, October 28th. Citigroup increased their target price on shares of FOX from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of FOX in a research report on Monday, December 29th.

Insider Buying and Selling

In other news, CFO Steven Tomsic sold 138,397 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $66.54, for a total transaction of $9,208,936.38. Following the completion of the transaction, the chief financial officer directly owned 180,556 shares of the company’s stock, valued at approximately $12,014,196.24. This represents a 43.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam G. Ciongoli sold 29,897 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total value of $2,079,336.35. Following the sale, the insider owned 35,978 shares in the company, valued at $2,502,269.90. The trade was a 45.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 454,817 shares of company stock valued at $29,490,590. 19.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FOX

Several hedge funds and other institutional investors have recently modified their holdings of FOXA. Ameriprise Financial Inc. increased its holdings in shares of 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 acquiring an additional 762,645 shares during the period. CSM Advisors LLC bought a new position in FOX in the 2nd quarter worth about $25,787,000. Lazard Asset Management LLC increased its stake in shares of FOX by 624.5% in the second 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 period. Marshall Wace LLP raised its holdings 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 buying an additional 185,859 shares during the last quarter. Finally, Andra AP fonden raised its holdings in shares of FOX by 19.2% during the second quarter. Andra AP fonden now owns 920,800 shares of the company’s stock valued at $51,602,000 after buying an additional 148,400 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Price Performance

Shares of FOXA stock opened at $72.72 on Thursday. The firm has a fifty day moving average of $70.86 and a two-hundred day moving average of $63.49. The firm has a market cap of $32.28 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.63 and a beta of 0.50. FOX has a 1-year low of $46.42 and a 1-year high of $76.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.10 by $0.41. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.57 billion. FOX had a net margin of 12.35% and a return on equity of 18.61%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.45 earnings per share. As a group, research analysts anticipate that FOX will post 4.38 earnings per share for the current fiscal year.

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.