Wolfe Research Upgrades Fox Corporation to Buy
Wolfe Research has raised its rating on Fox Corporation to a Buy with a $71 price target, a 36.12% upside from the current price.
Key Points
- Wolfe Research raised its rating on Fox Corporation (NasdaqGS:FOXA) to Buy with a new price target of $71.
- Wolfe Research's $71 price target implies 36.12% upside from Fox Corporation's ($FOXA) current $52.16 share price.
- Fox Corporation shares traded at $52.16 on Wednesday, with a market cap of about $21.9 billion and a P/E ratio of 13.7.
- Recent insider activity includes significant share sales, and analysts maintain diverse ratings with a consensus target of $71.4.
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Wolfe Research has upgraded its stance on Fox Corporation (NasdaqGS:FOXA), raising the rating to a Buy with a new price target of $71. This change was announced on July 1, 2026, reflecting Wolfe's positive outlook on the company's potential.
What Changed in Wolfe Research's Fox Corporation Position
Wolfe Research's analyst Peter Supino raised the rating for Fox Corporation to Buy, setting a new price target of $71. This marks a significant shift in the firm's outlook, as the previous target was not disclosed. The upgrade suggests increased confidence in Fox's future performance.
Other Institutional Activity in Fox Corporation
Institutional investors have been active in Fox Corporation. BlackRock, Inc. increased its holdings by 99,152 shares, bringing its total to nearly 19.9 million shares valued at about $1.16 billion, a 0.5% increase. State Street Corp also boosted its position by 3,290,395 shares, now holding 19.7 million shares worth approximately $1.15 billion, reflecting a 20.1% increase. Goldman Sachs Group Inc. added 736,095 shares, ending with 13.2 million shares valued at $773.4 million, a 5.9% rise. Meanwhile, Vanguard Capital Management LLC and Vanguard Portfolio Management LLC opened new positions with 12.5 million and 9 million shares, respectively, valued at $728.1 million and $526.8 million. In contrast, Dodge & Cox trimmed its stake by 716,601 shares, now holding 10.9 million shares worth $636.4 million, a 6.2% decrease.
Fox Corporation Stock Down 23.8%
Shares of Fox Corporation (NasdaqGS:FOXA) traded near $52.16 on Wednesday. The company has a market capitalization of about $21.9 billion and a P/E ratio of 13.7, with a forward P/E of 9.1. Fox's beta is relatively low at 0.519, indicating less volatility compared to the market. The stock's 52-week range is between $48.34 and $76.39. It has a 50-day moving average of $62.10 and a 200-day moving average of $63.48. The company's current ratio stands at 2.9, with a quick ratio of 2.5 and a debt-to-equity ratio of 67.9.
$FOXA price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Fox Corporation reported revenue of approximately $16.2 billion, though it experienced a slight decline of 8.6% in revenue growth. The company posted an earnings per share (EPS) of $3.8. Its net margin is 10.6%, and the return on equity (ROE) is 15.2%. Fox is scheduled to announce its next earnings on August 5, 2026.
Dividend
Fox Corporation pays an annual dividend rate of $0.56, yielding about 1.07%. The dividend payout ratio is relatively low at 14.7%, indicating a conservative approach to dividend distribution.
Insider Buying and Selling at Fox Corporation
Recent insider activity at Fox Corporation shows several significant sales. On December 9, 2025, Adam Ciongoli sold 29,897 shares at an average price of $69.21. Earlier, on November 21, 2025, Keith Rupert Murdoch executed two transactions totaling 200,000 shares at $58.65 each. Steven Tomsic sold 138,397 shares at $66.54 on November 10, 2025, and again on November 7, 2025, Murdoch sold 168,756 shares at $65.71.
Analysts Set New Price Targets
On July 1, 2026, Wolfe Research upgraded Fox Corporation to a Buy with a $71 price target. Barclays maintained a Hold rating with a $60 target on June 15, 2026. Evercore ISI Group and JP Morgan both maintained Hold ratings with targets of $73 and $70, respectively, on May 12, 2026. The consensus among analysts is a Buy, with an average target price of $71.4 based on 15 analyst opinions.
About Fox Corporation
Fox Corporation operates as a news, sports, and entertainment company in the U.S., with its headquarters in New York, NY. The company, led by CEO Lachlan Keith Murdoch, has about 10,400 employees. It runs through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot, offering a range of content and services from traditional TV to digital platforms.
Bottom Line
Wolfe Research's upgrade to a Buy rating for Fox Corporation reflects a positive outlook on the company's potential. Investors often track such analyst actions for insights into market sentiment. It's worth noting that 13F filings and analyst ratings are backward-looking and may not represent current positions or recommendations.
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