FOX (NASDAQ:FOXA – Free Report) had its price target reduced by Wells Fargo & Company from $30.00 to $28.00 in a research note released on Thursday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.
Several other equities research analysts have also weighed in on the company. Wolfe Research raised FOX from an underperform rating to a peer perform rating in a research note on Thursday, January 4th. Morgan Stanley decreased their target price on FOX from $39.00 to $35.00 and set an equal weight rating for the company in a research report on Wednesday, November 1st. Macquarie raised their target price on FOX from $29.00 to $30.00 and gave the stock a neutral rating in a research report on Thursday. JPMorgan Chase & Co. cut FOX from an overweight rating to a neutral rating and decreased their target price for the stock from $40.00 to $36.00 in a research report on Friday, November 3rd. Finally, Loop Capital decreased their target price on FOX from $40.00 to $38.00 in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $34.25.
FOX Stock Down 2.3 %
FOX (NASDAQ:FOXA – Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.24. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. The company’s revenue was down 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.48 EPS. Equities analysts expect that FOX will post 3.12 earnings per share for the current fiscal year.
FOX Dividend Announcement
The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 5th. This represents a yield of 1.8%. FOX’s dividend payout ratio (DPR) is currently 30.77%.
Insider Buying and Selling at FOX
In other FOX news, Chairman Keith Rupert Murdoch sold 194,691 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $29.57, for a total transaction of $5,757,012.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 21.77% of the company’s stock.
Institutional Investors Weigh In On FOX
A number of institutional investors have recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. boosted its holdings in FOX by 0.8% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 41,656 shares of the company’s stock valued at $1,236,000 after purchasing an additional 324 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in FOX by 3.1% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,983 shares of the company’s stock valued at $337,000 after purchasing an additional 334 shares in the last quarter. Prudential PLC boosted its holdings in FOX by 1.6% during the third quarter. Prudential PLC now owns 23,068 shares of the company’s stock valued at $720,000 after purchasing an additional 362 shares in the last quarter. Personal CFO Solutions LLC boosted its holdings in FOX by 3.0% during the second quarter. Personal CFO Solutions LLC now owns 12,607 shares of the company’s stock valued at $429,000 after purchasing an additional 368 shares in the last quarter. Finally, Empirical Finance LLC boosted its holdings in FOX by 3.8% during the third quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock valued at $319,000 after purchasing an additional 372 shares in the last quarter. 55.93% of the stock is owned by institutional investors and hedge funds.
FOX Company Profile
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.
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