FOX (NASDAQ:FOXA) Sets New 12-Month High Following Analyst Upgrade

Fox Co. (NASDAQ:FOXAGet Free Report)’s stock price reached a new 52-week high during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $51.00 to $57.00. The Goldman Sachs Group currently has a buy rating on the stock. FOX traded as high as $49.30 and last traded at $49.07, with a volume of 6273535 shares. The stock had previously closed at $47.06.

FOXA has been the topic of a number of other research reports. TD Cowen upped their price target on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Evercore ISI upgraded shares of FOX to a “hold” rating in a research report on Tuesday, November 5th. Macquarie reissued a “neutral” rating and issued a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. UBS Group lifted their price objective on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.87.

Check Out Our Latest Report on FOXA

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction dated 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 hyperlink. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 469,352 shares of company stock valued at $20,822,072. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in FOX by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 291,051 shares of the company’s stock valued at $12,320,000 after purchasing an additional 1,178 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of FOX by 108.4% in the third quarter. Franklin Resources Inc. now owns 177,342 shares of the company’s stock worth $7,369,000 after buying an additional 92,244 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of FOX by 24.6% during the third quarter. Tidal Investments LLC now owns 33,672 shares of the company’s stock valued at $1,425,000 after buying an additional 6,658 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of FOX during the third quarter valued at approximately $3,587,000. Finally, Invst LLC purchased a new position in FOX in the 3rd quarter worth approximately $740,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

The firm has a 50-day moving average of $44.98 and a 200-day moving average of $40.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm has a market capitalization of $22.31 billion, a P/E ratio of 11.94, a PEG ratio of 1.18 and a beta of 0.77.

FOX (NASDAQ:FOXAGet Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts predict that Fox Co. will post 3.94 EPS for the current year.

About FOX

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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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