Guggenheim Increases FOX (NASDAQ:FOXA) Price Target to $45.00

FOX (NASDAQ:FOXA) had its price target boosted by Guggenheim from $44.00 to $45.00 in a research report released on Tuesday morning, Benzinga reports. Guggenheim currently has a buy rating on the stock.

FOXA has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price on FOX from $36.00 to $38.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their target price on FOX from $39.00 to $42.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Rosenblatt Securities increased their target price on FOX from $37.00 to $38.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. The Goldman Sachs Group increased their target price on FOX from $42.00 to $44.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company upgraded FOX from an underweight rating to an overweight rating and increased their target price for the stock from $29.00 to $46.00 in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $39.64.

FOX Stock Performance

FOXA opened at $42.27 on Tuesday. FOX has a 12-month low of $28.28 and a 12-month high of $42.63. The stock has a market cap of $19.73 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.85 and a beta of 0.76. The business has a 50 day moving average of $39.59 and a 200-day moving average of $35.09. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. FOX had a return on equity of 15.57% and a net margin of 10.74%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the firm posted $0.88 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that FOX will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.27 dividend. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date was Wednesday, September 4th. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Insider Activity

In other news, COO John Nallen sold 52,874 shares of FOX 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 transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Several hedge funds have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its holdings in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after buying an additional 461 shares during the period. UMB Bank n.a. lifted its holdings in FOX by 254.4% during the 1st quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock worth $35,000 after buying an additional 809 shares during the period. Friedenthal Financial acquired a new position in FOX during the 2nd quarter worth about $51,000. Duncker Streett & Co. Inc. acquired a new position in FOX during the 2nd quarter worth about $52,000. Finally, Meeder Asset Management Inc. acquired a new position in FOX during the 1st quarter worth about $66,000. Institutional investors and hedge funds 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.