Brokerages Set Fox Co. (NASDAQ:FOXA) Price Target at $33.40

Shares of Fox Co. (NASDAQ:FOXA) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $33.40.

Several research analysts have issued reports on the stock. Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. TheStreet cut shares of FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Macquarie increased their target price on shares of FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Finally, Wells Fargo & Company dropped their target price on shares of FOX from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th.

FOX Trading Up 0.2 %

NASDAQ FOXA opened at $30.40 on Friday. The company’s 50-day moving average price is $30.11 and its 200-day moving average price is $30.37. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70. The stock has a market cap of $14.44 billion, a PE ratio of 17.99, a PEG ratio of 0.39 and a beta of 0.78. FOX has a 12 month low of $28.28 and a 12 month high of $35.40.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. FOX had a net margin of 5.75% and a return on equity of 15.81%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the prior year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. Equities research analysts forecast that FOX will post 3.28 earnings per share for the current year.

FOX Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were given a $0.26 dividend. This represents a dividend yield of 1.8%. The ex-dividend date was Tuesday, March 5th. FOX’s payout ratio is currently 30.77%.

Hedge Funds Weigh In On FOX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC raised its position in shares of FOX by 862.2% in the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after purchasing an additional 845 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of FOX in the 4th quarter valued at approximately $43,000. MV Capital Management Inc. raised its position in shares of FOX by 36.5% in the 3rd quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock valued at $44,000 after purchasing an additional 379 shares during the last quarter. Belpointe Asset Management LLC raised its position in shares of FOX by 35.6% in the 1st quarter. Belpointe Asset Management LLC now owns 1,437 shares of the company’s stock valued at $49,000 after purchasing an additional 377 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of FOX in the 4th quarter valued at approximately $53,000. 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 Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.