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

Equities researchers at The Goldman Sachs Group began coverage on shares of FOX (NASDAQ:FOXA) in a research note issued on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $42.00 price target on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 21.88% from the company’s current price.

A number of other research analysts also recently commented on FOXA. Seaport Res Ptn raised FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. Rosenblatt Securities reissued a “neutral” rating and set a $34.00 target price on shares of FOX in a research note on Monday, April 15th. Bank of America raised FOX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $40.00 in a research note on Thursday, May 9th. Macquarie boosted their target price on FOX from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Finally, Barclays boosted their target price on FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, FOX has an average rating of “Hold” and a consensus target price of $35.38.

FOX Price Performance

FOXA stock opened at $34.46 on Tuesday. The company has a market cap of $16.08 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.26 and a beta of 0.77. The business has a 50-day simple moving average of $32.93 and a 200 day simple moving average of $31.25. FOX has a 52 week low of $28.28 and a 52 week 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.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.11. The business had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.44 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. Sell-side analysts anticipate that FOX will post 3.33 EPS for the current fiscal year.

Insider Activity at FOX

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

Hedge Funds Weigh In On FOX

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its stake in FOX by 862.2% in the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after buying an additional 845 shares during the period. UMB Bank n.a. lifted its stake in FOX by 254.4% in the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after buying an additional 809 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of FOX during the fourth quarter worth approximately $43,000. GAMMA Investing LLC acquired a new position in shares of FOX during the fourth quarter worth approximately $53,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of FOX during the first quarter worth approximately $66,000. 52.52% of the stock is 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 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.