FOX (NASDAQ:FOXA) Sets New 52-Week High After Analyst Upgrade

Shares of Fox Co. (NASDAQ:FOXA) reached a new 52-week high on Friday after UBS Group raised their price target on the stock from $50.00 to $63.00. UBS Group currently has a buy rating on the stock. FOX traded as high as $55.82 and last traded at $55.61, with a volume of 270477 shares. The stock had previously closed at $55.45.

FOXA has been the topic of several other reports. TD Cowen upped their price objective on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Loop Capital increased their target price on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Barclays increased their price target on FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft increased their price target on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup raised their price objective on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FOX presently has an average rating of “Hold” and an average price target of $51.00.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated 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 approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. DnB Asset Management AS raised its position in FOX by 0.6% during the fourth quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock valued at $2,141,000 after acquiring an additional 245 shares in the last quarter. Jones Financial Companies Lllp raised its position in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares in the last quarter. SRS Capital Advisors Inc. raised its position in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after acquiring an additional 262 shares in the last quarter. US Bancorp DE raised its position in FOX by 2.0% during the fourth quarter. US Bancorp DE now owns 14,520 shares of the company’s stock valued at $705,000 after acquiring an additional 281 shares in the last quarter. Finally, Metis Global Partners LLC raised its position in FOX by 2.8% during the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock valued at $524,000 after acquiring an additional 292 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Stock Performance

The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average of $49.65 and a two-hundred day moving average of $44.67. The company has a market capitalization of $25.38 billion, a PE ratio of 11.91, a PEG ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company earned $0.34 earnings per share. FOX’s quarterly revenue was up 19.9% compared to the same quarter last year. Research analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be issued a $0.27 dividend. This represents a yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s payout ratio is currently 11.56%.

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.