JPMorgan Chase & Co. Raises FOX (NASDAQ:FOXA) Price Target to $38.00

FOX (NASDAQ:FOXA) had its price target hoisted by analysts at JPMorgan Chase & Co. from $36.00 to $38.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 3.06% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday. Macquarie lifted their target price on shares of FOX from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Bank of America raised shares of FOX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $34.00 to $40.00 in a research note on Thursday, May 9th. Rosenblatt Securities lifted their target price on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of FOX from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.36.

FOX Trading Up 1.0 %

FOX stock traded up $0.39 during trading hours on Wednesday, reaching $39.20. The stock had a trading volume of 1,704,218 shares, compared to its average volume of 3,048,460. The stock has a market cap of $18.30 billion, a PE ratio of 12.32, a PEG ratio of 1.51 and a beta of 0.77. FOX has a 52 week low of $28.28 and a 52 week high of $39.81. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. The company has a fifty day simple moving average of $35.33 and a 200-day simple moving average of $32.57.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a net margin of 11.19% and a return on equity of 15.90%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. Analysts forecast that FOX will post 3.33 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the completion of the sale, the chairman now directly owns 1,408,862 shares in the company, valued at $43,519,747.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other FOX news, Chairman Keith Rupert Murdoch sold 13,176 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total value of $407,006.64. Following the completion of the transaction, the chairman now directly owns 1,408,862 shares in the company, valued at $43,519,747.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the completion of the transaction, the chief financial officer now owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FOX

Hedge funds have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV raised its stake in FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares in the last quarter. Global Retirement Partners LLC raised its stake in FOX by 862.2% during the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after purchasing an additional 845 shares in the last quarter. UMB Bank n.a. raised its stake in shares of FOX by 254.4% in the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after acquiring an additional 809 shares during the period. Altshuler Shaham Ltd purchased a new stake in shares of FOX in the fourth quarter valued at $43,000. Finally, Friedenthal Financial purchased a new stake in shares of FOX in the second quarter valued at $51,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.