The Goldman Sachs Group Boosts FOX (NASDAQ:FOXA) Price Target to $51.00

FOX (NASDAQ:FOXA) had its price objective boosted by stock analysts at The Goldman Sachs Group from $46.00 to $51.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 16.49% from the company’s previous close.

Several other research firms have also recently weighed in on FOXA. 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. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Rosenblatt Securities boosted their price objective on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Cfra reissued a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $43.31.

FOX Stock Up 1.8 %

NASDAQ:FOXA traded up $0.78 during mid-day trading on Tuesday, hitting $43.78. 1,168,267 shares of the company’s stock were exchanged, compared to its average volume of 2,953,253. FOX has a one year low of $28.28 and a one year high of $45.82. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The business has a fifty day moving average price of $41.39 and a 200 day moving average price of $37.34. The company has a market cap of $20.15 billion, a PE ratio of 10.70, a P/E/G ratio of 1.90 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. Equities analysts predict that FOX will post 3.69 EPS for the current year.

Insider Activity at FOX

In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 21.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp increased its position in FOX by 31.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock valued at $15,523,000 after purchasing an additional 117,458 shares during the period. Jane Street Group LLC increased its position in FOX by 25.2% during the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after purchasing an additional 28,072 shares during the period. UniSuper Management Pty Ltd grew its position in shares of FOX by 565.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock worth $745,000 after buying an additional 20,250 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of FOX in the 1st quarter worth approximately $609,000. Finally, SG Americas Securities LLC grew its position in shares of FOX by 89.6% in the 1st quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock worth $1,575,000 after buying an additional 23,791 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Company Profile

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.