FOX (NASDAQ:FOXA) Given New $57.00 Price Target at The Goldman Sachs Group

FOX (NASDAQ:FOXA) had its target price increased by The Goldman Sachs Group from $51.00 to $57.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently weighed in on FOXA. Deutsche Bank Aktiengesellschaft lifted their target price on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Bank of America raised their price objective on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Barclays lifted their price objective on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Finally, Citigroup lifted their price objective on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.87.

FOX Trading Up 1.4 %

Shares of FOXA stock opened at $49.53 on Thursday. The stock has a market capitalization of $22.62 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $45.14 and its 200 day moving average is $40.59. FOX has a 12-month low of $28.28 and a 12-month high of $50.63.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 EPS. Research analysts expect that FOX will post 3.94 earnings per share for the current year.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 469,352 shares of company stock worth $20,822,072. Insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of hedge funds and other institutional investors have recently made changes to their positions in FOXA. Principal Financial Group Inc. increased its position in shares of FOX by 0.4% in the third quarter. Principal Financial Group Inc. now owns 291,051 shares of the company’s stock valued at $12,320,000 after acquiring an additional 1,178 shares during the last quarter. Franklin Resources Inc. raised its position in shares of FOX by 108.4% in the third quarter. Franklin Resources Inc. now owns 177,342 shares of the company’s stock valued at $7,369,000 after purchasing an additional 92,244 shares during the period. Tidal Investments LLC lifted its position in FOX by 24.6% during the third quarter. Tidal Investments LLC now owns 33,672 shares of the company’s stock worth $1,425,000 after acquiring an additional 6,658 shares during the last quarter. World Investment Advisors LLC bought a new stake in FOX in the 3rd quarter valued at $3,587,000. Finally, Invst LLC acquired a new position in shares of FOX in the third quarter valued at about $740,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.