Barclays Cuts FOX (NASDAQ:FOXA) Price Target to $45.00

FOX (NASDAQ:FOXA) had its price target reduced by Barclays from $50.00 to $45.00 in a research note released on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also recently weighed in on the stock. Moffett Nathanson cut shares of FOX from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Bank of America increased their target price on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Guggenheim reissued a “buy” rating and issued a $60.00 price target on shares of FOX in a research report on Tuesday, March 25th. Wells Fargo & Company dropped their price objective on FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Finally, Wolfe Research downgraded FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price for the company. in a report on Monday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.06.

FOX Trading Down 3.9 %

Shares of NASDAQ:FOXA opened at $49.52 on Tuesday. The company has a market cap of $22.45 billion, a PE ratio of 10.60, a P/E/G ratio of 1.27 and a beta of 0.51. The company’s 50 day moving average is $54.10 and its two-hundred day moving average is $48.84. FOX has a 52 week low of $30.02 and a 52 week high of $58.74. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.34 EPS. FOX’s revenue for the quarter was up 19.9% on a year-over-year basis. Equities analysts predict that FOX will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.27 per share. This represents a yield of 1%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX’s payout ratio is 11.56%.

Insider Transactions at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of institutional investors have recently bought and sold shares of the company. WealthTrak Capital Management LLC acquired a new position in shares of FOX during the 4th quarter worth $26,000. SRS Capital Advisors Inc. raised its position in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after acquiring an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of FOX in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp grew its position in shares of FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after purchasing an additional 368 shares in the last quarter. 52.52% of the stock is currently 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 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.