The Goldman Sachs Group Raises FOX (NASDAQ:FOXA) Price Target to $51.00

FOX (NASDAQ:FOXA - Free Report) had its target price lifted by The Goldman Sachs Group from $46.00 to $51.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on FOX from $42.00 to $47.00 and gave the stock a "buy" rating in a report on Tuesday. Guggenheim raised their price objective on shares of FOX from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. Wells Fargo & Company upped their target price on shares of FOX from $46.00 to $49.00 and gave the stock an "overweight" rating in a research report on Tuesday. Cfra restated a "sell" rating on shares of FOX in a report on Wednesday, September 25th. Finally, Morgan Stanley raised their price objective on FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, FOX presently has an average rating of "Hold" and an average target price of $44.00.

FOX Stock Performance

NASDAQ FOXA traded up $0.60 on Tuesday, reaching $43.60. The stock had a trading volume of 7,832,659 shares, compared to its average volume of 2,984,395. The stock has a market cap of $20.07 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. FOX has a 12-month low of $28.28 and a 12-month high of $45.82. The business's 50-day moving average price is $41.39 and its 200 day moving average price is $37.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a net margin of 10.74% and a return on equity of 15.57%. 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 prior year, the firm earned $1.09 EPS. FOX's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts expect that FOX will post 3.69 earnings per share for the current year.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 52,874 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares of the company's stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO John Nallen sold 52,874 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares of the company's stock, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company's stock.

Hedge Funds Weigh In On FOX

Large investors have recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in FOX by 11.0% in the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company's stock valued at $103,000 after buying an additional 326 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of FOX by 1.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company's stock valued at $991,000 after acquiring an additional 385 shares in the last quarter. Raymond James Trust N.A. boosted its position in FOX by 4.4% during the 2nd quarter. Raymond James Trust N.A. now owns 9,691 shares of the company's stock worth $333,000 after purchasing an additional 406 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in FOX by 1.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company's stock worth $1,249,000 after purchasing an additional 451 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its holdings in FOX by 0.9% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company's stock valued at $1,695,000 after purchasing an additional 453 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

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.