FOX’s (FOXA) Buy Rating Reiterated at The Goldman Sachs Group

FOX (NASDAQ:FOXA)‘s stock had its “buy” rating reiterated by research analysts at The Goldman Sachs Group in a report issued on Monday, Benzinga reports. They presently have a $42.00 price target on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 21.81% from the stock’s current price.

A number of other research firms also recently commented on FOXA. Bank of America raised FOX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $40.00 in a report on Thursday, May 9th. Barclays increased their target price on FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, May 13th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $34.00 target price on shares of FOX in a report on Monday, April 15th. Macquarie increased their target price on FOX from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on FOX from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, FOX presently has an average rating of “Hold” and an average price target of $35.38.

FOX Trading Up 1.1 %

Shares of FOXA opened at $34.48 on Monday. The company has a market capitalization of $16.09 billion, a P/E ratio of 10.81, a P/E/G ratio of 1.23 and a beta of 0.77. FOX has a one year low of $28.28 and a one year 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 50-day moving average price of $33.27 and a 200 day moving average price of $31.42.

FOX (NASDAQ:FOXA) last released its earnings results on Wednesday, May 8th. The company reported $1.09 EPS for the quarter, topping 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 company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.44 billion. Sell-side analysts forecast that FOX will post 3.33 EPS for the current fiscal year.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 30,000 shares of the firm’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 value of $1,027,800.00. Following the sale, the chief financial officer now directly owns 110,568 shares in the company, valued at approximately $3,788,059.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Steven Tomsic sold 30,000 shares of the firm’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 value of $1,027,800.00. Following the sale, the chief financial officer now directly owns 110,568 shares in the company, valued at approximately $3,788,059.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total value of $407,006.64. Following the transaction, the chairman now directly owns 1,408,862 shares of the company’s stock, valued at $43,519,747.18. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Hedge Funds Weigh In On FOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares in the last quarter. Global Retirement Partners LLC boosted its stake in FOX by 862.2% during the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after purchasing an additional 845 shares in the last quarter. UMB Bank n.a. boosted its stake in FOX by 254.4% during the 1st quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after purchasing an additional 809 shares in the last quarter. Altshuler Shaham Ltd bought a new position in FOX during the 4th quarter valued at $43,000. Finally, GAMMA Investing LLC bought a new stake in shares of FOX during the 4th quarter worth $53,000. 52.52% of the stock is owned by institutional investors.

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.