FOX (NASDAQ:FOXA) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

FOX (NASDAQ:FOXA - Get Free Report) had its price objective upped by research analysts at The Goldman Sachs Group from $51.00 to $57.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's price target indicates a potential upside of 16.71% from the stock's current price.

Several other research analysts also recently issued reports on FOXA. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $42.00 to $47.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Barclays lifted their target price on FOX from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 9th. Seaport Res Ptn cut FOX from a "strong-buy" rating to a "hold" rating in a report on Monday, September 9th. Morgan Stanley boosted their price objective on FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. Finally, Guggenheim lifted their price target on shares of FOX from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. One investment 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. Based on data from MarketBeat.com, FOX presently has an average rating of "Hold" and a consensus price target of $46.87.

FOX Stock Performance

NASDAQ:FOXA traded down $0.59 during mid-day trading on Thursday, hitting $48.84. 5,988,275 shares of the company's stock traded hands, compared to its average volume of 3,145,516. The firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The firm has a 50 day moving average of $44.83 and a two-hundred day moving average of $40.39. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. FOX has a 12 month low of $28.28 and a 12 month high of $50.63.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $3.56 billion during the quarter, compared to analysts' expectations of $3.38 billion. During the same period in the prior year, the business earned $1.09 earnings per share. FOX's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that FOX will post 3.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 1,258,862 shares of the company's stock, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John Nallen sold 182,481 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock worth $20,822,072 in the last 90 days. Corporate insiders own 21.77% of the company's stock.

Hedge Funds Weigh In On FOX

Several large investors have recently bought and sold shares of FOXA. Principal Financial Group Inc. raised its position in shares of FOX by 0.4% during the 3rd 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. increased its holdings in 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 last quarter. Tidal Investments LLC increased its holdings in FOX by 24.6% in the third quarter. Tidal Investments LLC now owns 33,672 shares of the company's stock valued at $1,425,000 after purchasing an additional 6,658 shares during the last quarter. World Investment Advisors LLC acquired a new position in FOX in the third quarter valued at about $3,587,000. Finally, Invst LLC bought a new position in FOX during the third quarter worth about $740,000. 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.