FOX (NASDAQ:FOXA) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of FOX (NASDAQ:FOXA) in a research note published on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $42.00 price target on the stock.

A number of other research analysts have also issued reports on FOXA. Macquarie boosted their price objective on FOX from $30.00 to $32.00 and gave the company a neutral rating in a research report on Monday, May 13th. Bank of America upgraded FOX from a neutral rating to a buy rating and boosted their price target for the stock from $34.00 to $40.00 in a research report on Thursday, May 9th. Barclays boosted their price objective on FOX from $33.00 to $36.00 and gave the stock an equal weight rating in a research note on Monday, May 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on FOX from $38.00 to $39.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Finally, Rosenblatt Securities reissued a neutral rating and issued a $34.00 price objective on shares of FOX in a research note on Monday, April 15th. One 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’s stock. According to data from MarketBeat.com, FOX has a consensus rating of Hold and an average price target of $35.38.

FOX Price Performance

FOXA stock opened at $34.08 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 52-week low of $28.28 and a 52-week high of $35.40. The stock’s 50 day moving average is $33.09 and its two-hundred day moving average is $31.31. The company has a market capitalization of $15.91 billion, a PE ratio of 10.68, a P/E/G ratio of 1.26 and a beta of 0.77.

FOX (NASDAQ:FOXA) last issued 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. FOX had a return on equity of 15.90% and a net margin of 11.19%. The business had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.44 billion. Analysts predict that FOX will post 3.33 earnings per share for the current fiscal year.

Insider Activity at FOX

In other FOX news, CFO Steven Tomsic sold 30,000 shares of the business’s 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 transaction, the chief financial officer now owns 110,568 shares in the company, valued at $3,788,059.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $407,006.64. Following the transaction, the chairman now owns 1,408,862 shares in the company, valued at $43,519,747.18. The sale 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 company’s 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 sale, the chief financial officer now 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 insiders.

Institutional Trading of FOX

Several large investors have recently made changes to their positions in FOXA. HighTower Advisors LLC boosted its stake in shares of FOX by 15.8% during the 3rd quarter. HighTower Advisors LLC now owns 16,866 shares of the company’s stock worth $524,000 after acquiring an additional 2,306 shares in the last quarter. Paralel Advisors LLC boosted its stake in shares of FOX by 1.3% during the 3rd quarter. Paralel Advisors LLC now owns 56,216 shares of the company’s stock worth $1,754,000 after acquiring an additional 702 shares in the last quarter. Stifel Financial Corp boosted its stake 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 stake in FOX by 3.9% during the 3rd quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock valued at $1,059,000 after purchasing an additional 1,271 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in FOX during the 3rd quarter valued at approximately $952,000. 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 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.