FOX (NASDAQ:FOXA) Price Target Lowered to $63.00 at Wells Fargo & Company

FOX (NASDAQ:FOXA) had its target price trimmed by Wells Fargo & Company from $64.00 to $63.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

FOXA has been the subject of several other reports. JPMorgan Chase & Co. raised their price objective on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. StockNews.com lowered shares of FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. UBS Group lifted their price objective on shares of FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Guggenheim reiterated a “buy” rating and issued a $60.00 price objective on shares of FOX in a research note on Tuesday. Finally, Loop Capital boosted their target price on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, FOX presently has an average rating of “Hold” and a consensus price target of $51.13.

FOX Stock Down 0.3 %

NASDAQ:FOXA opened at $54.73 on Wednesday. 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 twelve month low of $30.02 and a twelve month high of $58.74. The company has a market cap of $24.82 billion, a PE ratio of 11.72, a P/E/G ratio of 1.27 and a beta of 0.67. The company’s 50 day moving average is $53.69 and its two-hundred day moving average is $47.98.

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

FOX Announces Dividend

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

Insider Transactions at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction that occurred 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 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 Trading of FOX

A number of institutional investors have recently made changes to their positions in FOXA. WealthTrak Capital Management LLC acquired a new position in FOX in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. boosted its stake in FOX by 91.0% during 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 during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of FOX during the fourth quarter worth $28,000. Jones Financial Companies Lllp raised its position in shares of FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after buying an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after buying an additional 368 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

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.