Fox Corporation (NASDAQ:FOX) Stock Has Average Target Price of $77.67

Fox Corporation (NASDAQ:FOX) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $77.67.

A number of research firms recently issued reports on FOX. Seaport Research Partners lowered FOX from a “buy” rating to a “hold” rating in a report on Friday, August 7th. Zacks Research downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Friday, August 28th. Fox Advisors set a $95.00 price objective on shares of FOX in a research report on Monday, September 14th. Wolfe Research set a $93.00 price objective on shares of FOX in a research note on Thursday, August 20th. Finally, JPMorgan Chase & Co. upgraded shares of FOX from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $82.00 in a report on Friday, August 14th.

Insider Activity

In related news, CEO Lachlan Murdoch acquired 149,934 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the transaction, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 23.06% of the company’s stock.

Hedge Funds Weigh In On FOX

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in FOX by 42.3% in the second quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock valued at $40,000 after acquiring an additional 251 shares during the period. Sequoia Financial Advisors LLC raised its position in FOX by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 6,644 shares of the company’s stock worth $311,000 after purchasing an additional 254 shares in the last quarter. Arlington Partners LLC lifted its stake in FOX by 12.4% during the second quarter. Arlington Partners LLC now owns 5,054 shares of the company’s stock worth $237,000 after purchasing an additional 556 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in FOX by 27.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company’s stock valued at $151,000 after purchasing an additional 613 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in FOX by 2.6% during the second quarter. QRG Capital Management Inc. now owns 28,896 shares of the company’s stock valued at $1,354,000 after purchasing an additional 723 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Performance

Shares of NASDAQ FOX opened at $55.83 on Wednesday. The stock has a fifty day moving average price of $57.25 and a two-hundred day moving average price of $55.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The firm has a market cap of $23.43 billion, a P/E ratio of 14.58, a PEG ratio of 1.46 and a beta of 0.58. FOX has a 1 year low of $44.08 and a 1 year high of $68.18.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.35. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. Research analysts forecast that FOX will post 5.99 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were given a $0.29 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a yield of 96.0%. FOX’s payout ratio is 15.14%.

FOX Company Profile

Fox Corporation (NASDAQ: FOX) is a U.S. media company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the Tubi streaming service.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, FOX Nation, and FOX Weather. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted television content.