FOX’s (FOXA) Buy Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of FOX (NASDAQ:FOXA) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $60.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. Citigroup raised their target price on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Barclays raised their price objective on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. UBS Group upped their target price on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company lifted their price target on shares of FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, Loop Capital upped their price objective on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.13.

FOX Stock Down 0.5 %

Shares of FOX stock opened at $54.92 on Tuesday. 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 has a 12-month low of $30.02 and a 12-month high of $58.74. The company has a market cap of $24.90 billion, a P/E ratio of 11.76, a PEG ratio of 1.27 and a beta of 0.67. The company’s fifty day simple moving average is $53.55 and its two-hundred day simple moving average is $47.88.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. FOX’s quarterly revenue was up 19.9% on a year-over-year basis. Research analysts anticipate that FOX will post 4.38 EPS for the current year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were given a $0.27 dividend. This represents a yield of 1%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is 11.56%.

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. The trade was a 4.61 % 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, insider Adam G. Ciongoli sold 1,278 shares of the 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 completion of 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 disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of large investors have recently made changes to their positions in FOXA. DnB Asset Management AS boosted its holdings in shares of FOX by 0.6% in the fourth quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock worth $2,141,000 after buying an additional 245 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after purchasing an additional 262 shares in the last quarter. US Bancorp DE raised its holdings in FOX by 2.0% in the 4th quarter. US Bancorp DE now owns 14,520 shares of the company’s stock worth $705,000 after purchasing an additional 281 shares during the period. Finally, Metis Global Partners LLC lifted its position in FOX by 2.8% during the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock valued at $524,000 after purchasing an additional 292 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

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.