FOX (NASDAQ:FOXA) Given New $42.00 Price Target at TD Cowen

FOX (NASDAQ:FOXA) had its price target lifted by TD Cowen from $36.00 to $42.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other analysts have also recently weighed in on the stock. Guggenheim raised their price target on shares of FOX from $44.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Morgan Stanley increased their price objective on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Macquarie reissued a “neutral” rating and issued a $43.00 price target on shares of FOX in a report on Tuesday. Wells Fargo & Company increased their price objective on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, FOX has a consensus rating of “Hold” and a consensus price target of $44.00.

FOX Stock Up 1.4 %

Shares of FOXA opened at $43.60 on Tuesday. The firm has a market capitalization of $20.07 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.90 and a beta of 0.76. FOX has a 12-month low of $28.28 and a 12-month high of $45.82. The firm has a fifty day moving average price of $41.44 and a 200-day moving average price of $37.42. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 10.74% and a return on equity of 15.57%. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the company earned $1.09 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that FOX will post 3.69 earnings per share for the current year.

Insider Activity at FOX

In other news, COO John Nallen sold 182,481 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp increased its stake in FOX by 31.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock worth $15,523,000 after buying an additional 117,458 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of FOX by 25.2% in the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock worth $4,362,000 after acquiring an additional 28,072 shares during the last quarter. UniSuper Management Pty Ltd increased its position in shares of FOX by 565.6% during the first quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock worth $745,000 after purchasing an additional 20,250 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in FOX in the 1st quarter valued at $609,000. Finally, SG Americas Securities LLC lifted its holdings in FOX by 89.6% in the 1st quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock valued at $1,575,000 after purchasing an additional 23,791 shares in 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.