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

The Goldman Sachs Group started coverage on shares of FOX (NASDAQ:FOXA) in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $42.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of FOX from $38.00 to $39.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Macquarie increased their price objective on shares of FOX from $30.00 to $32.00 and gave the company a neutral rating in a research report on Monday, May 13th. Barclays increased their price objective on shares of FOX from $33.00 to $36.00 and gave the company an equal weight rating in a research report on Monday, May 13th. 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. Finally, Seaport Res Ptn upgraded shares of FOX from a neutral rating to a buy rating in a research report on Friday, April 5th. 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, the stock has a consensus rating of Hold and an average target price of $35.38.

FOX Price Performance

Shares of NASDAQ FOXA opened at $34.08 on Tuesday. FOX has a 1 year low of $28.28 and a 1 year high of $35.40. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. The company’s 50-day moving average is $33.09 and its 200 day moving average is $31.31. The stock has a market capitalization of $15.91 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.26 and a beta of 0.77.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.11. The company had revenue of $3.45 billion for 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%. On average, sell-side analysts expect that FOX will post 3.33 earnings per share for the current year.

Insider Activity at FOX

In other FOX news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction on Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the transaction, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Keith Rupert Murdoch sold 13,176 shares of the firm’s stock in a transaction dated 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 approximately $43,519,747.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven Tomsic sold 30,000 shares of the firm’s stock in a transaction dated 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 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 currently owned by corporate insiders.

Institutional Investors Weigh In On FOX

Institutional investors have recently made changes to their positions in the company. Quest Partners LLC bought a new stake in FOX during the 4th quarter valued at about $1,796,000. Scout Investments Inc. lifted its stake in FOX by 102.0% during the 4th quarter. Scout Investments Inc. now owns 209,871 shares of the company’s stock valued at $6,227,000 after acquiring an additional 105,960 shares during the period. Hsbc Holdings PLC lifted its stake in FOX by 99.9% during the 4th quarter. Hsbc Holdings PLC now owns 652,921 shares of the company’s stock valued at $19,339,000 after acquiring an additional 326,254 shares during the period. Los Angeles Capital Management LLC lifted its stake in FOX by 231.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 177,074 shares of the company’s stock valued at $5,537,000 after acquiring an additional 123,651 shares during the period. Finally, Deane Retirement Strategies Inc. acquired a new position in shares of FOX in the 4th quarter valued at $2,752,000. 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.