FOX (NASDAQ:FOXA – Get Free Report) had its price objective boosted by stock analysts at Deutsche Bank Aktiengesellschaft from $42.00 to $47.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 3.34% from the stock’s current price.
Several other analysts also recently weighed in on FOXA. Wells Fargo & Company raised shares of FOX from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $29.00 to $46.00 in a research note on Friday, August 16th. The Goldman Sachs Group boosted their target price on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Bank of America raised their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Loop Capital boosted their price objective on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Cfra restated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.00.
Get Our Latest Stock Report on FOX
FOX Stock Performance
FOX (NASDAQ:FOXA – Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $1.09 earnings per share. On average, sell-side analysts anticipate that FOX will post 3.7 EPS for the current fiscal year.
Insider Transactions at FOX
In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FOX news, COO John Nallen sold 52,874 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % 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 this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the sale, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 335,355 shares of company stock valued at $14,244,865. Company insiders own 21.77% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of FOXA. Vanguard Group Inc. grew its holdings in FOX by 5.9% in the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock worth $934,354,000 after purchasing an additional 1,653,913 shares during the period. Retirement Systems of Alabama boosted its position in shares of FOX by 1,727.2% in the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after purchasing an additional 912,250 shares in the last quarter. AXA S.A. grew its stake in shares of FOX by 294.2% in the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after buying an additional 663,089 shares during the last quarter. Independent Franchise Partners LLP increased its position in FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after buying an additional 597,450 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after buying an additional 492,467 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.
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.
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