The Goldman Sachs Group Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its price objective raised by investment analysts at The Goldman Sachs Group from $51.00 to $57.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 15.08% from the company’s previous close.

A number of other equities analysts have also commented on FOXA. Wells Fargo & Company raised their price objective on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. UBS Group raised their price target on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley boosted their price target on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Macquarie reiterated a “neutral” rating and set a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Finally, Evercore ISI raised shares of FOX to a “hold” rating in a report on Tuesday, November 5th. 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 currently has a consensus rating of “Hold” and an average target price of $46.87.

FOX Trading Up 1.4 %

Shares of FOX stock opened at $49.53 on Thursday. FOX has a 52-week low of $28.28 and a 52-week high of $50.63. The stock has a market cap of $22.62 billion, a PE ratio of 12.11, a PEG ratio of 1.18 and a beta of 0.77. The firm has a 50-day moving average of $45.14 and a 200-day moving average of $40.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that FOX will post 3.94 EPS for the current year.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders 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

Several hedge funds have recently added to or reduced their stakes in FOXA. Pacer Advisors Inc. increased its position in FOX by 44,205.3% in the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after acquiring an additional 7,897,710 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in FOX by 228.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after purchasing an additional 964,737 shares during the period. Retirement Systems of Alabama increased its holdings in FOX by 1,727.2% in the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after purchasing an additional 912,250 shares during the period. AXA S.A. raised its position in FOX by 294.2% during the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after purchasing an additional 663,089 shares during the last quarter. Finally, Independent Franchise Partners LLP lifted its holdings in FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after buying an additional 597,450 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

About FOX

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.