FOX (NASDAQ:FOXA) Price Target Cut to $61.00 by Analysts at UBS Group

FOX (NASDAQ:FOXA) had its target price trimmed by UBS Group from $63.00 to $61.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Bank of America boosted their price target on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Wolfe Research lowered FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price on the stock. in a report on Monday, April 7th. Barclays decreased their price target on FOX from $50.00 to $45.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group set a $60.00 price objective on shares of FOX and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, StockNews.com cut shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, FOX currently has an average rating of “Hold” and an average price target of $50.94.

FOX Price Performance

Shares of NASDAQ FOXA opened at $50.06 on Tuesday. The stock has a market cap of $22.70 billion, a P/E ratio of 10.72, a P/E/G ratio of 1.27 and a beta of 0.51. FOX has a twelve month low of $30.08 and a twelve month high of $58.74. The stock has a 50 day moving average of $53.82 and a two-hundred day moving average of $48.99. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.

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 firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. On average, research analysts forecast that FOX will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

The company also recently declared a semi-annual dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date was Wednesday, March 5th. FOX’s dividend payout ratio is currently 11.56%.

Insider Transactions at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. WealthTrak Capital Management LLC acquired a new position in FOX in the fourth quarter valued at $26,000. SRS Capital Advisors Inc. boosted its position in shares of 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 acquiring an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in FOX in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp increased its position in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after purchasing an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after purchasing an additional 368 shares during the period. 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.