The Goldman Sachs Group Forecasts Strong Price Appreciation for FOX (NASDAQ:FOXA) Stock

FOX (NASDAQ:FOXA) had its price target raised by The Goldman Sachs Group from $46.00 to $51.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Guggenheim boosted their price objective on shares of FOX from $44.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Macquarie boosted their target price on shares of FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Evercore ISI upped their price objective on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.00.

FOX Stock Performance

Shares of FOXA opened at $44.67 on Tuesday. The company has a market cap of $20.56 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 1.95 and a beta of 0.76. The business’s fifty day simple moving average is $41.53 and its two-hundred day simple moving average is $37.48. FOX has a 12 month low of $28.28 and a 12 month high of $45.82. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the firm posted $1.09 earnings per share. FOX’s revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that FOX will post 3.7 earnings per share for the current fiscal year.

Insider Transactions at FOX

In related news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 335,355 shares of company stock valued at $14,244,865 over the last three months. Corporate insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of hedge funds have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its holdings in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after buying an additional 461 shares in the last quarter. Friedenthal Financial bought a new position in shares of FOX during the 2nd quarter valued at approximately $51,000. Quest Partners LLC bought a new stake in FOX in the third quarter worth $51,000. Duncker Streett & Co. Inc. purchased a new stake in FOX during the second quarter valued at $52,000. Finally, Meeder Asset Management Inc. purchased a new stake in FOX during the first quarter valued at $66,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.