FOX (NASDAQ:FOXA) Price Target Raised to $40.00 at Morgan Stanley

FOX (NASDAQ:FOXA) had its price objective boosted by Morgan Stanley from $38.00 to $40.00 in a report published on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also recently commented on FOXA. Macquarie boosted their price target on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. The Goldman Sachs Group boosted their target price on shares of FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on shares of FOX from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Bank of America upped their price objective on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Rosenblatt Securities raised their target price on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.46.

FOX Stock Down 0.3 %

FOXA traded down $0.12 on Friday, reaching $41.88. 2,934,355 shares of the company traded hands, compared to its average volume of 2,947,319. FOX has a 52-week low of $28.28 and a 52-week high of $42.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The company has a market cap of $19.27 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.91 and a beta of 0.76. The stock’s 50 day moving average price is $41.35 and its 200-day moving average price is $37.15.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the business posted $0.88 earnings per share. FOX’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts expect that FOX will post 3.69 EPS for the current fiscal year.

Insider Transactions at FOX

In related news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 21.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FOX

Institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. boosted its position in shares of FOX by 11.0% during the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after acquiring an additional 326 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of FOX by 4.4% in the 2nd quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock valued at $333,000 after purchasing an additional 406 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of FOX by 1.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock worth $1,249,000 after buying an additional 451 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of FOX by 0.9% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company’s stock worth $1,695,000 after buying an additional 453 shares during the period. Finally, Verdence Capital Advisors LLC boosted its stake in FOX by 3.5% in the 2nd quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company’s stock valued at $461,000 after buying an additional 458 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

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.