FOX (NASDAQ:FOXA) Given New $42.00 Price Target at TD Cowen

FOX (NASDAQ:FOXA) had its price objective boosted by TD Cowen from $36.00 to $42.00 in a research report report published on Tuesday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

FOXA has been the topic of several other research reports. Rosenblatt Securities upped their target price on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Barclays boosted their target price on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Bank of America boosted their price objective on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Macquarie restated a “neutral” rating and issued a $43.00 target price on shares of FOX in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.00.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $44.60 on Tuesday. The firm has a market capitalization of $20.53 billion, a PE ratio of 10.90, a PEG ratio of 1.19 and a beta of 0.76. 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 1-year low of $28.28 and a 1-year high of $45.82. The business’s 50 day moving average is $41.66 and its 200-day moving average is $37.62.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts predict that FOX will post 3.87 earnings per share for the current year.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other FOX news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 335,355 shares of company stock valued at $14,244,865 in the last 90 days. 21.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FOXA. Mirae Asset Global Investments Co. Ltd. grew its position in shares of FOX by 70.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,595 shares of the company’s stock valued at $2,378,000 after acquiring an additional 30,866 shares during the period. Janney Montgomery Scott LLC raised its stake in FOX by 66.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,396 shares of the company’s stock valued at $419,000 after acquiring an additional 5,331 shares during the period. Daiwa Securities Group Inc. lifted its holdings in FOX by 2.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 28,254 shares of the company’s stock valued at $884,000 after purchasing an additional 784 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in FOX during the 1st quarter valued at $329,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in FOX by 16.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 33,659 shares of the company’s stock worth $1,053,000 after purchasing an additional 4,776 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

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.