FOX (NASDAQ:FOXA) Stock Rating Reaffirmed by The Goldman Sachs Group

The Goldman Sachs Group restated their buy rating on shares of FOX (NASDAQ:FOXA) in a research report released on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a $42.00 target price on the stock.

Several other analysts have also issued reports on the stock. Bank of America upgraded shares of FOX from a neutral rating to a buy rating and increased their price target for the stock from $34.00 to $40.00 in a research report on Thursday, May 9th. Barclays boosted their price target on FOX from $33.00 to $36.00 and gave the stock an equal weight rating in a report on Monday, May 13th. 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. Finally, Macquarie upped their price objective on shares of FOX from $30.00 to $32.00 and gave the stock a neutral rating in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $35.38.

FOX Stock Performance

NASDAQ:FOXA opened at $34.78 on Monday. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.09 and a beta of 0.77. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $35.40. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.94 and a current ratio of 3.24. The stock has a fifty day moving average price of $33.39 and a 200-day moving average price of $31.47.

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

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 13,176 shares of the firm’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 transaction of $407,006.64. Following the completion of the sale, the chairman now owns 1,408,862 shares in the company, valued at approximately $43,519,747.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the sale, the chairman now owns 1,408,862 shares of the company’s stock, valued at approximately $43,519,747.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,027,800.00. Following the completion of the transaction, the chief financial officer now owns 110,568 shares in the company, valued at $3,788,059.68. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of large investors have recently added to or reduced their stakes in FOXA. Norges Bank bought a new position in FOX in the 4th quarter worth $68,391,000. KBC Group NV lifted its position in FOX by 453.0% during the fourth quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock valued at $60,225,000 after purchasing an additional 1,662,748 shares during the period. Vanguard Group Inc. boosted its holdings in FOX by 5.9% in the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock worth $934,354,000 after purchasing an additional 1,653,913 shares during the last quarter. TD Asset Management Inc grew its position in FOX by 128.0% in the 4th quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock worth $68,068,000 after purchasing an additional 1,287,911 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in FOX during the 3rd quarter valued at $27,780,000. Institutional investors own 52.52% of the company’s stock.

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.