FOX’s (FOXA) “Buy” Rating Reiterated at The Goldman Sachs Group

FOX (NASDAQ:FOXA)‘s stock had its “buy” rating reaffirmed by analysts at The Goldman Sachs Group in a research note issued on Monday, Benzinga reports. They currently have a $42.00 target price on the stock. The Goldman Sachs Group’s target price points to a potential upside of 21.88% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Bank of America upgraded FOX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $40.00 in a report on Thursday, May 9th. Barclays increased their price objective on shares of FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, May 13th. Rosenblatt Securities restated a “neutral” rating and set a $34.00 target price on shares of FOX in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft increased their price target on FOX from $38.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.38.

FOX Trading Up 0.3 %

Shares of FOXA stock traded up $0.09 during trading hours on Monday, hitting $34.46. 319,377 shares of the company were exchanged, compared to its average volume of 3,177,660. FOX has a 1 year low of $28.28 and a 1 year high of $35.40. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average of $33.22 and a 200 day moving average of $31.39. The firm has a market cap of $16.08 billion, a PE ratio of 10.79, a PEG ratio of 1.23 and a beta of 0.77.

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

Insider Transactions at FOX

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

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently bought and sold shares of FOXA. Stifel Financial Corp boosted its position in FOX by 30.6% during the 3rd quarter. Stifel Financial Corp now owns 60,538 shares of the company’s stock valued at $1,889,000 after purchasing an additional 14,181 shares during the period. Federated Hermes Inc. boosted its holdings in shares of FOX by 3.9% during the third quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock valued at $1,059,000 after acquiring an additional 1,271 shares during the period. Bank of Nova Scotia increased its holdings in shares of FOX by 130.3% in the 3rd quarter. Bank of Nova Scotia now owns 80,205 shares of the company’s stock worth $2,502,000 after acquiring an additional 45,382 shares during the period. Toronto Dominion Bank increased its holdings in shares of FOX by 3.4% in the 3rd quarter. Toronto Dominion Bank now owns 134,529 shares of the company’s stock worth $4,197,000 after acquiring an additional 4,428 shares during the period. Finally, Teza Capital Management LLC bought a new stake in FOX in the 3rd quarter valued at about $236,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Company Profile

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.