Wells Fargo & Company Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its price objective increased by Wells Fargo & Company from $59.00 to $64.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also recently issued reports on FOXA. Guggenheim boosted their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. TD Cowen boosted their price target on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Citigroup increased their price objective on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Morgan Stanley lifted their target price on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, FOX presently has a consensus rating of “Hold” and a consensus target price of $50.19.

FOX Stock Performance

Shares of NASDAQ:FOXA opened at $54.53 on Wednesday. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. FOX has a 12 month low of $28.28 and a 12 month high of $55.56. The company has a market capitalization of $24.91 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.25 and a beta of 0.76. The firm’s 50-day moving average is $48.63 and its 200 day moving average is $43.95.

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

FOX Dividend Announcement

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

Insider Buying and Selling

In related news, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Institutional Trading of FOX

Institutional investors have recently made changes to their positions in the company. SRS Capital Advisors Inc. raised its holdings in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after buying an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in FOX in the 4th quarter valued at about $28,000. Brooklyn Investment Group increased its stake in FOX by 142.5% during the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after buying an additional 466 shares during the period. Quest Partners LLC acquired a new stake in shares of FOX in the third quarter valued at $51,000. Finally, Quarry LP acquired a new stake in FOX in the 3rd quarter valued at about $70,000. Hedge funds and other 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.