Deutsche Bank Aktiengesellschaft Increases FOX (NASDAQ:FOXA) Price Target to $42.00

FOX (NASDAQ:FOXA) had its price objective upped by investment analysts at Deutsche Bank Aktiengesellschaft from $39.00 to $42.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 7.14% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Rosenblatt Securities raised their target price on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday. Macquarie upped their price objective on FOX from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Barclays raised their target price on shares of FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, May 13th. Evercore ISI raised their target price on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research note on Wednesday. Finally, Bank of America upgraded FOX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $34.00 to $40.00 in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.36.

FOX Trading Up 1.0 %

FOXA stock traded up $0.39 during midday trading on Wednesday, hitting $39.20. 1,704,218 shares of the company’s stock were exchanged, compared to its average volume of 3,048,460. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.94 and a current ratio of 3.24. The stock’s fifty day moving average price is $35.33 and its 200-day moving average price is $32.57. FOX has a one year low of $28.28 and a one year high of $39.81. The company has a market cap of $18.30 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.51 and a beta of 0.77.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.07. FOX had a net margin of 11.19% and a return on equity of 15.90%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts predict that FOX will post 3.33 earnings per share for the current fiscal year.

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 13,176 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the transaction, the chairman now directly owns 1,408,862 shares of the company’s stock, valued at $43,519,747.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction on Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the sale, the chief financial officer now owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total value of $407,006.64. Following the transaction, the chairman now owns 1,408,862 shares of the company’s stock, valued at approximately $43,519,747.18. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FOX

Large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its position in shares of FOX by 17.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 22,632 shares of the company’s stock valued at $671,000 after acquiring an additional 3,303 shares during the period. Global Retirement Partners LLC boosted its position in shares of FOX by 862.2% during the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after acquiring an additional 845 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of FOX by 9.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,094,255 shares of the company’s stock worth $32,467,000 after buying an additional 97,922 shares during the last quarter. Cerity Partners LLC lifted its stake in FOX by 44.3% during the fourth quarter. Cerity Partners LLC now owns 17,254 shares of the company’s stock worth $512,000 after purchasing an additional 5,293 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in FOX in the 4th quarter worth approximately $442,000. 52.52% of the stock is currently owned by institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.