Fox Stock Gets Buy Nod from B of A Securities; Here's What the Numbers Show

B of A Securities reaffirmed its Buy rating on Fox (FOXA) as of December 19, 2025, signaling confidence in the media giant’s prospects despite near-term headwinds. Yet the price action tells a more cautious tale—analysts project modest downside of 2.71% from current levels.

Price Target Points to Modest Correction Ahead

The consensus one-year price target for FOXA stands at $69.85 per share, implying a decline from the December 6 close of $71.79. Wall Street’s forecasts span a wide range, from as low as $48.48 to as high as $101.85, reflecting divergent views on the company’s trajectory. That said, the median analyst view leans bearish on near-term momentum.

On the fundamentals side, Fox’s projected annual revenue is expected to contract 6.31% to $15,434 million, while non-GAAP EPS is forecast at 4.15. The revenue compression underscores industry headwinds facing traditional media players.

Institutional Money Flows Show Retreat

The institutional landscape around FOXA is shifting. A total of 1,422 funds and institutions currently hold positions in the stock, down 16 owners (1.11%) from last quarter. More telling: total institutional share count dropped 3.16% to 277,903K shares, even as the average portfolio weight edged up 3.60% to 0.19% across all funds tracking the name. The put/call ratio of 0.62 suggests traders aren’t entirely pessimistic.

How the Big Money is Repositioning

Dodge & Cox, the largest disclosed holder, manages 13,152K shares (6.31% of outstanding). The firm trimmed its position by 866K shares—a 6.58% reduction—but actually increased its portfolio allocation to FOXA by 1.38%, suggesting selective accumulation despite the size cut.

DODGX (the Dodge & Cox Stock Fund) tells a different story. Its 11,126K share stake dropped dramatically by 4,892K shares (43.97%), with portfolio allocation shrinking 33.27%. This signals more aggressive de-risking from the fund arm.

Independent Franchise Partners LLP holds 10,576K shares (5.08%) and made only minor cuts—shedding 160K shares (1.51%)—while actually boosting portfolio weight by 9.84%, indicating selective appetite for FOXA at these levels.

XLC (the Communication Services Select Sector SPDR Fund) increased holdings by 564K shares to 7,340K (3.52%), yet paradoxically reduced its portfolio allocation by 9.42%, reflecting the fund’s mechanical rebalancing.

LSV Asset Management rounded out the top five, maintaining 7,137K shares (3.43%) after cutting 343K shares (4.80%). Like others, the firm boosted allocation by 1.28% quarter-over-quarter.

The Takeaway

FOXA remains on institutional radars, but the positioning data suggests a market still wrestling with secular headwinds in traditional media. B of A’s Buy call provides some backing, though the modest price target and falling share counts hint that conviction among big money remains tempered.