FOX (NASDAQ:FOXA) Price Target Lowered to $61.00 at UBS Group

FOX (NASDAQ:FOXA) had its target price reduced by UBS Group from $63.00 to $61.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on FOXA. The Goldman Sachs Group set a $60.00 target price on FOX and gave the company a “buy” rating in a research report on Tuesday, February 4th. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and lifted their target price for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Wells Fargo & Company reduced their price target on shares of FOX from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Bank of America boosted their price objective on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Wolfe Research downgraded FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price on the stock. in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $50.94.

FOX Stock Up 1.1 %

FOXA stock opened at $50.06 on Tuesday. FOX has a one year low of $30.08 and a one year high of $58.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The firm’s fifty day moving average is $53.82 and its 200 day moving average is $48.99. The firm has a market cap of $22.70 billion, a PE ratio of 10.72, a P/E/G ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 EPS 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 analysts’ expectations of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period last year, the firm earned $0.34 EPS. On average, research analysts forecast that FOX will post 4.38 EPS for the current year.

FOX Dividend Announcement

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

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Institutional investors have recently modified their holdings of the company. M&T Bank Corp lifted its holdings in FOX by 7.4% during the 3rd quarter. M&T Bank Corp now owns 14,645 shares of the company’s stock worth $620,000 after buying an additional 1,010 shares during the last quarter. Invst LLC purchased a new stake in FOX during the third quarter worth approximately $740,000. World Investment Advisors LLC acquired a new position in FOX in the third quarter valued at approximately $3,587,000. Tidal Investments LLC increased its stake in FOX by 24.6% in the third 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 during the last quarter. Finally, Franklin Resources Inc. raised its holdings in FOX by 108.4% during the third quarter. Franklin Resources Inc. now owns 177,342 shares of the company’s stock worth $7,369,000 after purchasing an additional 92,244 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.