FOX (NASDAQ:FOXA) Price Target Raised to $83.00

FOX (NASDAQ:FOXA) had its price objective hoisted by JPMorgan Chase & Co. from $82.00 to $83.00 in a report issued on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

FOXA has been the subject of a number of other research reports. Wells Fargo & Company upgraded shares of FOX from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $65.00 to $80.00 in a research note on Friday, August 14th. KeyCorp cut FOX to a “sector weight” rating in a report on Friday, October 16th. Raymond James Financial raised FOX to a “strong-buy” rating in a report on Friday, October 16th. Seaport Research Partners downgraded FOX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded FOX from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.16.

FOX Price Performance

NASDAQ:FOXA opened at $67.67 on Tuesday. The company has a quick ratio of 2.99, a current ratio of 3.79 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $28.40 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 1.15 and a beta of 0.63. FOX has a 12-month low of $48.34 and a 12-month high of $76.39. The stock’s 50 day moving average price is $64.88 and its two-hundred day moving average price is $62.20.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 2nd. The company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.52. FOX had a return on equity of 23.96% and a net margin of 11.30%. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter in the prior year, the business earned $1.51 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, analysts anticipate that FOX will post 5.98 earnings per share for the current year.

Insider Buying and Selling at FOX

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Junto Capital Management LP bought a new stake in shares of FOX during the second quarter worth $34,773,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of FOX during the third quarter worth $29,395,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of FOX in the 2nd quarter valued at $21,519,000. Pictet Asset Management Holding SA grew its position in FOX by 112.3% during the 3rd quarter. Pictet Asset Management Holding SA now owns 493,559 shares of the company’s stock worth $30,921,000 after acquiring an additional 261,072 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in FOX during the 3rd quarter worth $11,195,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

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.