Analysts Set Fox Corporation (NASDAQ:FOX) Price Target at $82.50

Fox Corporation (NASDAQ:FOXGet Free Report) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $82.50.

FOX has been the subject of several analyst reports. Zacks Research downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. UBS Group reissued a “buy” rating on shares of FOX in a research report on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of FOX in a research note on Monday, December 29th. Guggenheim reiterated a “buy” rating and issued a $85.00 price target on shares of FOX in a research note on Monday, December 22nd. Finally, Wells Fargo & Company downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th.

Check Out Our Latest Stock Report on FOX

FOX Price Performance

Shares of NASDAQ FOX opened at $51.56 on Tuesday. FOX has a 1-year low of $43.18 and a 1-year high of $68.18. The business has a 50-day moving average of $63.36 and a 200-day moving average of $58.05. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44. The company has a market capitalization of $21.93 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 7.00 and a beta of 0.56.

FOX (NASDAQ:FOXGet Free Report) last announced its earnings results on Wednesday, February 4th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.51 by $0.31. The business had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.06 billion. FOX had a return on equity of 18.14% and a net margin of 11.41%. On average, equities analysts anticipate that FOX will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 4th. FOX’s dividend payout ratio (DPR) is currently 13.46%.

Insider Activity

In related news, insider Adam G. Ciongoli sold 29,897 shares of FOX stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total value of $2,079,336.35. Following the completion of the transaction, the insider directly owned 35,978 shares in the company, valued at approximately $2,502,269.90. This trade represents a 45.38% decrease in their ownership of the stock. 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 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $59.26, for a total value of $5,926,000.00. Following the sale, the chairman owned 1,100,862 shares in the company, valued at $65,237,082.12. The trade was a 8.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 23.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FOX

A number of hedge funds have recently added to or reduced their stakes in FOX. Marshall Wace LLP raised its holdings in shares of FOX by 792.4% during the third quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock worth $182,448,000 after purchasing an additional 2,827,768 shares during the period. SG Americas Securities LLC grew its position in shares of FOX by 2,459.6% during the 4th quarter. SG Americas Securities LLC now owns 413,037 shares of the company’s stock valued at $26,818,000 after buying an additional 396,900 shares during the last quarter. Pinebridge Investments LLC acquired a new stake in FOX during the fourth quarter worth about $13,758,000. Gabelli Funds LLC lifted its holdings in FOX by 26.4% in the third quarter. Gabelli Funds LLC now owns 538,400 shares of the company’s stock worth $30,845,000 after acquiring an additional 112,600 shares during the last quarter. Finally, Andra AP fonden boosted its stake in FOX by 8.0% in the second quarter. Andra AP fonden now owns 1,081,700 shares of the company’s stock valued at $55,848,000 after acquiring an additional 80,400 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.

Key FOX News

Here are the key news stories impacting FOX this week:

FOX Company Profile

(Get Free Report)

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.

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Analyst Recommendations for FOX (NASDAQ:FOX)

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