FOX (NASDAQ:FOXA) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of FOX (NASDAQ:FOXA) in a report released on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $42.00 price target on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 21.88% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Rosenblatt Securities reiterated a “neutral” rating and set a $34.00 price objective on shares of FOX in a research note on Monday, April 15th. Barclays lifted their price objective on FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, May 13th. Macquarie lifted their price objective on FOX from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on FOX from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.38.

FOX Stock Performance

NASDAQ FOXA opened at $34.46 on Tuesday. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. FOX has a twelve month low of $28.28 and a twelve month high of $35.40. The firm has a market capitalization of $16.08 billion, a PE ratio of 10.80, a P/E/G ratio of 1.26 and a beta of 0.77. The stock’s 50 day moving average is $32.93 and its 200 day moving average is $31.25.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Wednesday, May 8th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.11. FOX had a return on equity of 15.90% and a net margin of 11.19%. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.44 billion. Research analysts forecast that FOX will post 3.33 earnings per share for the current fiscal year.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the completion of the sale, the chief financial officer now owns 110,568 shares in the company, valued at $3,788,059.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other FOX news, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $30.89, for a total transaction of $407,006.64. Following the completion of the sale, the chairman now owns 1,408,862 shares of the company’s stock, valued at $43,519,747.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Tomsic sold 30,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the sale, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Institutional Trading of FOX

Several institutional investors have recently made changes to their positions in FOXA. Cornercap Investment Counsel Inc. grew its holdings in FOX by 0.8% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 41,656 shares of the company’s stock valued at $1,236,000 after buying an additional 324 shares in the last quarter. Park Avenue Securities LLC grew its holdings in FOX by 1.7% during the 1st quarter. Park Avenue Securities LLC now owns 18,908 shares of the company’s stock valued at $591,000 after buying an additional 324 shares in the last quarter. Bessemer Group Inc. grew its holdings in FOX by 11.0% during the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after buying an additional 326 shares in the last quarter. Global Retirement Partners LLC grew its holdings in FOX by 38.4% during the 1st quarter. Global Retirement Partners LLC now owns 1,305 shares of the company’s stock valued at $41,000 after buying an additional 362 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in FOX by 3.0% during the 4th quarter. Verdence Capital Advisors LLC now owns 13,243 shares of the company’s stock valued at $393,000 after buying an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.