Analysts Set Fox Corporation (NASDAQ:FOXA) Target Price at $71.80

Fox Corporation (NASDAQ:FOXA) has received a consensus rating of “Hold” from the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $71.80.

FOXA has been the subject of a number of research reports. Zacks Research downgraded FOX from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Guggenheim boosted their price target on shares of FOX from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FOX in a research note on Monday, December 29th. Barclays lowered their price objective on shares of FOX from $64.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. Finally, Morgan Stanley lifted their price objective on shares of FOX from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th.

Insider Activity

In other FOX news, COO John Nallen sold 242,309 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $57.74, for a total transaction of $13,990,921.66. Following the sale, the chief operating officer directly owned 357,653 shares in the company, valued at $20,650,884.22. This represents a 40.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the sale, the chief executive officer directly owned 152 shares of the company’s stock, valued at $8,846.40. The trade was a 99.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,586,871 shares of company stock valued at $91,893,926. 19.68% of the stock is currently owned by company insiders.

Institutional Trading of FOX

Several hedge funds and other institutional investors have recently bought and sold shares of FOXA. Geode Capital Management LLC lifted its position in FOX by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock worth $476,248,000 after buying an additional 29,923 shares during the last quarter. Bank of New York Mellon Corp increased its position in FOX by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 1,924,975 shares of the company’s stock valued at $121,389,000 after acquiring an additional 16,757 shares during the last quarter. Ameriprise Financial Inc. increased its position in FOX by 72.0% during the second quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock valued at $101,948,000 after acquiring an additional 762,645 shares during the last quarter. Andra AP fonden raised its stake in shares of FOX by 2.6% in the third quarter. Andra AP fonden now owns 944,500 shares of the company’s stock valued at $59,560,000 after acquiring an additional 23,700 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of FOX in the fourth quarter valued at $67,467,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

More FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: CEO Lachlan K. Murdoch purchased 175,372 shares on March 13 at an average $60.63, raising his stake to ~1.25M shares — a visible insider buy that can be read as a vote of confidence in the company. Murdoch Form 4 (purchase)
• Positive Sentiment: Recent coverage highlights a shifting investment story around sports rights and advertising potential — this frames a possible medium-term revenue/upside catalyst for FOX’s broadcast and sports assets. How The Fox (FOXA) Investment Story Is Shifting Around Sports Rights And Advertising Potential
• Neutral Sentiment: Brokerage consensus remains a “Hold” on FOX, indicating analysts see limited near-term upgrade pressure despite the company’s recent fundamentals and messaging. Fox Corporation (NASDAQ:FOXA) Given Consensus Rating of “Hold” by Brokerages
• Negative Sentiment: Significant insider selling by leadership: CEO Lachlan Murdoch sold multiple tranches (totaling ~1.13M shares across Mar 11–13 for roughly $65M) and COO John Nallen sold ~459k shares (~$26.5M) across Mar 11–12. Those large disposals — even though partially offset by Murdoch’s purchase — are likely weighing on sentiment and helped drive elevated trading volume. Murdoch Form 4 (sales & purchase) Nallen Form 4 (sales)

FOX Price Performance

NASDAQ:FOXA opened at $57.39 on Friday. The business’s 50-day moving average is $64.95 and its 200 day moving average is $64.51. FOX has a 12 month low of $46.42 and a 12 month high of $76.39. The company has a market capitalization of $24.41 billion, a P/E ratio of 13.80, a P/E/G ratio of 7.50 and a beta of 0.55. The company has a current ratio of 2.78, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.35. FOX had a return on equity of 18.14% and a net margin of 11.41%.The business had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the business posted $0.96 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that FOX will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a dividend yield of 83.0%. FOX’s dividend payout ratio (DPR) is presently 13.46%.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.