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

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

Several other brokerages have also weighed in on FOXA. UBS Group increased their price objective on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Bank of America lifted their price target on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. upped their price objective on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Citigroup lifted their target price on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Wolfe Research downgraded FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price objective on the stock. in a report on Monday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.06.

FOX Stock Performance

NASDAQ:FOXA opened at $49.52 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The firm 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 firm has a 50 day simple moving average of $54.10 and a 200-day simple moving average of $48.84. FOX has a 1-year low of $30.02 and a 1-year high of $58.74.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The business’s revenue was up 19.9% on a year-over-year basis. On average, equities analysts expect that FOX will post 4.38 EPS for the current year.

FOX Dividend Announcement

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

Insider Buying and Selling

In other news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the sale, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction dated 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 transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FOXA. Pacer Advisors Inc. raised its position in shares of FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock valued at $405,194,000 after acquiring an additional 425,186 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in FOX by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company’s stock valued at $185,344,000 after purchasing an additional 39,959 shares during the last quarter. Northern Trust Corp raised its holdings in shares of FOX by 17.1% during the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock worth $170,111,000 after purchasing an additional 511,554 shares during the period. Norges Bank bought a new position in shares of FOX in the 4th quarter worth about $132,161,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of FOX by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company’s stock valued at $130,043,000 after buying an additional 219,016 shares during the period. Institutional investors own 52.52% of the company’s stock.

FOX Company Profile

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.