FOX (NASDAQ:FOXA) PT Raised to $44.00

FOX (NASDAQ:FOXA) had its price target hoisted by investment analysts at The Goldman Sachs Group from $42.00 to $44.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 12.02% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on FOXA. Barclays upped their price objective on shares of FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, May 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of FOX from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Rosenblatt Securities increased their price target on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday. Evercore ISI increased their price target on shares of FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday. Finally, Macquarie increased their price target 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 investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.00.

FOX Trading Up 1.2 %

NASDAQ FOXA traded up $0.47 on Wednesday, hitting $39.28. 1,565,485 shares of the stock were exchanged, compared to its average volume of 3,047,542. FOX has a 52-week low of $28.28 and a 52-week high of $39.81. 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 has a market capitalization of $18.33 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.51 and a beta of 0.77. The company’s 50-day moving average price is $35.33 and its two-hundred day moving average price is $32.57.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 11.19% and a return on equity of 15.90%. FOX’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. Research analysts predict that FOX will post 3.33 EPS for the current year.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction dated 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 owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other FOX news, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Tomsic sold 30,000 shares of FOX 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 owned by insiders.

Institutional Trading of FOX

Several hedge funds and other institutional investors have recently bought and sold shares of FOXA. Raymond James Financial Services Advisors Inc. grew its holdings in FOX by 17.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 22,632 shares of the company’s stock worth $671,000 after acquiring an additional 3,303 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of FOX by 862.2% during the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock worth $29,000 after buying an additional 845 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of FOX by 9.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,094,255 shares of the company’s stock worth $32,467,000 after buying an additional 97,922 shares during the period. Cerity Partners LLC increased its position in shares of FOX by 44.3% during the fourth quarter. Cerity Partners LLC now owns 17,254 shares of the company’s stock worth $512,000 after buying an additional 5,293 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of FOX during the fourth quarter worth $442,000. Institutional investors and hedge funds 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.