FOX (NASDAQ:FOXA) Price Target Raised to $54.00 at JPMorgan Chase & Co.

FOX (NASDAQ:FOXA) had its target price lifted by JPMorgan Chase & Co. from $49.00 to $54.00 in a research note published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. Loop Capital boosted their price objective on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Bank of America boosted their price target on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Macquarie reiterated a “neutral” rating and issued a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. The Goldman Sachs Group boosted their target price on shares of FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, TD Cowen upped their price target on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $50.19.

FOX Price Performance

NASDAQ:FOXA opened at $54.53 on Wednesday. FOX has a 52 week low of $28.28 and a 52 week high of $55.56. 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’s 50-day simple moving average is $48.63 and its 200 day simple moving average is $43.95. The firm has a market cap of $24.91 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 1.25 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. As a group, sell-side analysts predict that FOX will post 4.12 earnings per share for the current year.

FOX Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio (DPR) is currently 13.20%.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % 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 institutional investors have recently bought and sold shares of FOXA. SRS Capital Advisors Inc. increased its position in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after buying an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in FOX in the 4th quarter worth about $28,000. Brooklyn Investment Group increased its holdings in FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after acquiring an additional 466 shares during the last quarter. Quest Partners LLC purchased a new stake in FOX during the third quarter valued at about $51,000. Finally, Quarry LP bought a new position in FOX during the third quarter worth about $70,000. 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 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.