JPMorgan Chase & Co. Boosts FOX (NASDAQ:FOXA) Price Target to $65.00

FOX (NASDAQ:FOXA) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $61.00 to $65.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 0.54% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. Citigroup upped their target price on shares of FOX from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “buy (b+)” rating on shares of FOX in a research report on Wednesday, October 8th. TD Cowen upped their target price on shares of FOX from $53.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday. Morgan Stanley set a $70.00 target price on shares of FOX in a research report on Friday. Finally, Evercore ISI upped their target price on shares of FOX from $55.00 to $66.00 and gave the stock an “in-line” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.17.

FOX Stock Performance

Shares of NASDAQ:FOXA opened at $64.65 on Friday. FOX has a twelve month low of $41.78 and a twelve month high of $66.56. The firm has a market cap of $28.80 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.51 and a beta of 0.54. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.76 and a current ratio of 3.24. The business has a fifty day moving average of $60.09 and a 200-day moving average of $56.41.

FOX (NASDAQ:FOXA) last announced its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.41. FOX had a return on equity of 18.61% and a net margin of 12.35%.The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the company posted $1.45 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that FOX will post 4.38 EPS for the current fiscal year.

Insider Activity

In other news, Director Paul D. Ryan sold 17,767 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $64.36, for a total transaction of $1,143,484.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 19.68% of the company’s stock.

Hedge Funds Weigh In On FOX

Several institutional investors have recently modified their holdings of FOXA. Assetmark Inc. grew its position in shares of FOX by 752.1% during the 1st quarter. Assetmark Inc. now owns 1,951,657 shares of the company’s stock worth $110,464,000 after buying an additional 1,722,616 shares during the period. Federated Hermes Inc. increased its stake in FOX by 164,675.7% in the first quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company’s stock valued at $71,066,000 after purchasing an additional 1,254,829 shares in the last quarter. Nuveen LLC bought a new stake in FOX in the first quarter valued at approximately $63,125,000. Junto Capital Management LP bought a new stake in FOX in the first quarter valued at approximately $53,681,000. Finally, Ameriprise Financial Inc. increased its stake in FOX by 537.0% in the first quarter. Ameriprise Financial Inc. now owns 1,058,639 shares of the company’s stock valued at $59,909,000 after purchasing an additional 892,437 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.