FOX (NASDAQ:FOXA) Cut to Hold at StockNews.com

StockNews.com downgraded shares of FOX (NASDAQ:FOXA) from a buy rating to a hold rating in a report issued on Monday morning.

A number of other equities research analysts have also recently weighed in on the company. Guggenheim raised their price target on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Loop Capital lifted their price target on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Macquarie reissued a “neutral” rating and set a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. The Goldman Sachs Group boosted their target price on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Cfra reiterated a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.00.

FOX Stock Up 1.2 %

Shares of NASDAQ:FOXA opened at $46.71 on Monday. The company’s fifty day moving average is $43.24 and its 200-day moving average is $38.95. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. FOX has a 52 week low of $28.28 and a 52 week high of $47.58. The company has a market capitalization of $21.33 billion, a PE ratio of 11.42, a P/E/G ratio of 1.18 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. Equities research analysts predict that FOX will post 3.94 earnings per share for the current fiscal year.

Insider Activity at FOX

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 shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction on Monday, November 25th. The stock was 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. Over the last quarter, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by insiders.

Institutional Trading of FOX

A number of large investors have recently made changes to their positions in FOXA. Franklin Resources Inc. grew its stake in FOX by 108.4% in the third quarter. Franklin Resources Inc. now owns 177,342 shares of the company’s stock valued at $7,369,000 after acquiring an additional 92,244 shares during the period. Tidal Investments LLC lifted its holdings in shares of FOX by 24.6% during the 3rd quarter. Tidal Investments LLC now owns 33,672 shares of the company’s stock valued at $1,425,000 after purchasing an additional 6,658 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of FOX during the 3rd quarter valued at about $3,587,000. Invst LLC bought a new stake in FOX during the 3rd quarter worth approximately $740,000. Finally, Toronto Dominion Bank raised its holdings in FOX by 11.8% during the 3rd quarter. Toronto Dominion Bank now owns 76,077 shares of the company’s stock worth $3,220,000 after buying an additional 8,040 shares during the period. 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.