By otakuyassine3@gmail.com 
Fox Co. (NASDAQ:FOXA – Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $51.00 to $57.00. The Goldman Sachs Group currently has a buy rating on the stock. FOX traded as high as $49.30 and last traded at $49.07, with a volume of 6273535 shares traded. The stock had previously closed at $47.06.
Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Citigroup raised their target price on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com lowered FOX from a “buy” rating to a “hold” rating in a research report on Tuesday. Evercore ISI raised FOX to a “hold” rating in a research note on Tuesday, November 5th. Finally, Bank of America lifted their price objective on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.87.
Read Our Latest Research Report on FOX
Insider Buying and Selling at FOX
In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nallen sold 182,481 shares of the business’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 value of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of FOXA. Quest Partners LLC bought a new position in FOX during the 3rd quarter valued at $51,000. Duncker Streett & Co. Inc. bought a new position in shares of FOX during the second quarter valued at about $52,000. Quarry LP bought a new position in shares of FOX during the third quarter valued at about $70,000. Transamerica Financial Advisors Inc. purchased a new position in FOX during the third quarter worth about $119,000. Finally, Exchange Traded Concepts LLC bought a new stake in FOX in the 3rd quarter worth about $141,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.
FOX Stock Performance
The company’s 50 day simple moving average is $44.98 and its 200 day simple moving average is $40.45. The stock has a market cap of $22.31 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. 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 (NASDAQ:FOXA – Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.09 earnings per share. Analysts expect that Fox Co. will post 3.94 earnings per share for the current year.
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.
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