FOX (NASDAQ:FOX) Sets New 12-Month High – What’s Next?

Fox Co. (NASDAQ:FOX) hit a new 52-week high during trading on Tuesday . The company traded as high as $52.54 and last traded at $52.35, with a volume of 151949 shares. The stock had previously closed at $52.39.

Analysts Set New Price Targets

Separately, Moffett Nathanson lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st.

FOX Price Performance

The stock has a market capitalization of $24.20 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.54 and a beta of 0.82. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $47.72 and a 200 day simple moving average of $42.37.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.35. FOX had a return on equity of 18.50% and a net margin of 14.39%. During the same quarter last year, the business posted $0.34 earnings per share. On average, equities research analysts forecast that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.02%. FOX’s dividend payout ratio is 11.56%.

Insider Activity

In related news, insider Adam G. Ciongoli sold 1,278 shares of the firm’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 transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC bought a new position in FOX in the 3rd quarter worth approximately $128,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in FOX by 4.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,742 shares of the company’s stock worth $417,000 after buying an additional 457 shares during the period. Blue Trust Inc. increased its position in FOX by 292.8% in the 3rd quarter. Blue Trust Inc. now owns 5,539 shares of the company’s stock worth $215,000 after buying an additional 4,129 shares during the period. Hartford Investment Management Co. increased its position in FOX by 10.9% in the 3rd quarter. Hartford Investment Management Co. now owns 9,048 shares of the company’s stock worth $351,000 after buying an additional 891 shares during the period. Finally, IFM Investors Pty Ltd increased its position in FOX by 42.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 29,053 shares of the company’s stock worth $1,127,000 after buying an additional 8,599 shares during the period. 26.41% of the stock is owned by institutional investors.

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.