Loop Capital Boosts FOX (NASDAQ:FOXA) Price Target to $62.00

FOX (NASDAQ:FOXA) had its target price boosted by Loop Capital from $60.00 to $62.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

FOXA has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 target price on FOX and gave the stock a “buy” rating in a report on Tuesday, February 4th. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and increased their price target for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. Finally, Bank of America upped their target price on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.56.

FOX Price Performance

NASDAQ:FOXA opened at $55.82 on Tuesday. The stock has a 50 day moving average of $54.02 and a two-hundred day moving average of $48.33. FOX has a 12 month low of $30.02 and a 12 month high of $58.74. The firm has a market cap of $25.31 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. 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 (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.62 by $0.34. The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share. On average, analysts expect that FOX will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The company 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 was Wednesday, March 5th. FOX’s dividend payout ratio is currently 11.56%.

Insider Transactions at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated 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 $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s 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 transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % 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 Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its position in shares of FOX by 98.3% during the 3rd quarter. Cerity Partners LLC now owns 34,198 shares of the company’s stock worth $1,448,000 after purchasing an additional 16,950 shares during the last quarter. FMR LLC increased its holdings in shares of FOX by 9.0% in the 3rd quarter. FMR LLC now owns 554,019 shares of the company’s stock valued at $23,452,000 after acquiring an additional 45,531 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of FOX by 18.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,869 shares of the company’s stock worth $2,831,000 after acquiring an additional 10,261 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in FOX during the third quarter worth approximately $8,531,000. Finally, Paloma Partners Management Co boosted its holdings in FOX by 672.7% in the third quarter. Paloma Partners Management Co now owns 17,000 shares of the company’s stock valued at $720,000 after purchasing an additional 14,800 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

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.