FOX (NASDAQ:FOXA) Reaches New 1-Year High at $41.35

Fox Co. (NASDAQ:FOXA) shares hit a new 52-week high during trading on Monday . The stock traded as high as $41.35 and last traded at $41.29, with a volume of 57398 shares. The stock had previously closed at $41.01.

Analyst Ratings Changes

FOXA has been the topic of a number of research reports. Macquarie increased their target price on shares of FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Wells Fargo & Company upgraded shares of FOX from an “underweight” rating to an “overweight” rating and raised their price target for the company from $29.00 to $46.00 in a research note on Friday, August 16th. Barclays increased their price target on FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th. Rosenblatt Securities raised their target price on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of FOX from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, FOX currently has an average rating of “Hold” and a consensus target price of $38.23.

FOX Stock Up 0.8 %

The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $19.29 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.51 and a beta of 0.77. The business’s 50-day moving average price is $36.80 and its 200-day moving average price is $33.30.

FOX (NASDAQ:FOXA) last posted its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. FOX had a net margin of 11.19% and a return on equity of 15.90%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Fox Co. will post 3.33 EPS for the current fiscal year.

FOX Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. This represents a yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 4th. FOX’s dividend payout ratio is 16.93%.

Insider Transactions at FOX

In other FOX news, CFO Steven Tomsic sold 30,000 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 110,568 shares in the company, valued at approximately $3,788,059.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was 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 directly owns 110,568 shares in the company, valued at $3,788,059.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FOX

Several institutional investors have recently modified their holdings of FOXA. Massmutual Trust Co. FSB ADV raised its position in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the period. UMB Bank n.a. grew its holdings in shares of FOX by 254.4% in the 1st quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after acquiring an additional 809 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of FOX by 38.4% during the 1st quarter. Global Retirement Partners LLC now owns 1,305 shares of the company’s stock worth $41,000 after purchasing an additional 362 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in FOX in the fourth quarter valued at $43,000. Finally, Friedenthal Financial bought a new position in FOX during the second quarter worth about $51,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

About FOX

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.