FOX (NASDAQ:FOXA) Price Target Cut to $63.00 by Analysts at Wells Fargo & Company

FOX (NASDAQ:FOXA) had its price target decreased by equities researchers at Wells Fargo & Company from $64.00 to $63.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 14.63% from the stock’s current price.

Several other research firms have also recently issued reports on FOXA. JPMorgan Chase & Co. raised their price target on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 price target on shares of FOX and gave the stock a “buy” rating in a research report on Tuesday, February 4th. StockNews.com lowered shares of FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Loop Capital raised their price objective on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Bank of America upped their target price on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.13.

FOX Trading Up 2.9 %

FOXA opened at $54.96 on Wednesday. FOX has a 1-year low of $30.02 and a 1-year high of $58.74. The firm has a 50-day moving average price of $53.29 and a two-hundred day moving average price of $47.77. The stock has a market capitalization of $24.92 billion, a PE ratio of 11.77, a PEG ratio of 1.27 and a beta of 0.67. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.34. The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 EPS. As a group, equities analysts anticipate that FOX will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the sale, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Several hedge funds have recently made changes to their positions in FOXA. DnB Asset Management AS boosted its holdings in FOX by 0.6% during the fourth quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock worth $2,141,000 after purchasing an additional 245 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after buying an additional 249 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after acquiring an additional 262 shares in the last quarter. US Bancorp DE increased its position in shares of FOX by 2.0% in the fourth quarter. US Bancorp DE now owns 14,520 shares of the company’s stock valued at $705,000 after acquiring an additional 281 shares during the last quarter. Finally, Metis Global Partners LLC raised its holdings in FOX by 2.8% during the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock worth $524,000 after acquiring an additional 292 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

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.