FOX (NASDAQ:FOX) Sets New 12-Month High – Here’s Why

Fox Co. (NASDAQ:FOX)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $49.32 and last traded at $49.05, with a volume of 489013 shares traded. The stock had previously closed at $48.60.

Analysts Set New Price Targets

FOX has been the subject of a number of recent research reports. Moffett Nathanson cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays upgraded shares of FOX to a “hold” rating in a research report on Wednesday, October 9th.

FOX Price Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The company’s 50-day simple moving average is $46.10 and its 200-day simple moving average is $41.13. The company has a market cap of $23.42 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.76 and a beta of 0.82.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.35. FOX had a net margin of 13.40% and a return on equity of 16.49%. During the same quarter last year, the business earned $0.34 EPS. On average, equities research analysts anticipate that Fox Co. will post 3.91 EPS for the current year.

FOX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s payout ratio is 13.20%.

Insider Activity at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total value of $35,521,075.68. The disclosure for this sale can be found here. 23.06% of the stock is owned by insiders.

Institutional Trading of FOX

Institutional investors and hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. boosted its holdings in shares of FOX by 3.1% in the 4th quarter. QRG Capital Management Inc. now owns 90,065 shares of the company’s stock valued at $4,120,000 after buying an additional 2,721 shares during the last quarter. Proficio Capital Partners LLC bought a new position in FOX during the 4th quarter worth $2,176,000. Oppenheimer & Co. Inc. bought a new position in FOX during the 4th quarter worth $495,000. FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in FOX during the 4th quarter worth $283,000. Finally, Los Angeles Capital Management LLC acquired a new position in FOX in the fourth quarter valued at about $215,000. 26.41% of the stock is owned by 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.