FOX (NASDAQ:FOX) Sets New 1-Year High – Still a Buy?

Fox Corporation (NASDAQ:FOX)’s share price reached a new 52-week high on Monday . The company traded as high as $57.02 and last traded at $57.00, with a volume of 2264168 shares trading hands. The stock had previously closed at $55.29.

FOX Trading Up 3.1%

The firm has a market cap of $25.40 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.36 and a beta of 0.57. The business’s 50-day moving average is $53.18 and its two-hundred day moving average is $50.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76.

FOX (NASDAQ:FOX) last released its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.24. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. As a group, analysts predict that Fox Corporation will post 4.25 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a half year 25 dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. FOX’s dividend payout ratio (DPR) is 11.41%.

Institutional Trading of FOX

A number of large investors have recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury lifted its stake in FOX by 352.7% in the second quarter. State of Tennessee Department of Treasury now owns 80,407 shares of the company’s stock valued at $4,151,000 after acquiring an additional 62,646 shares during the last quarter. Captrust Financial Advisors acquired a new stake in FOX in the second quarter valued at $203,000. Redwood Investment Management LLC acquired a new stake in FOX in the second quarter valued at $1,374,000. Ameriprise Financial Inc. lifted its stake in FOX by 20.6% in the second quarter. Ameriprise Financial Inc. now owns 89,644 shares of the company’s stock valued at $4,628,000 after acquiring an additional 15,309 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in FOX by 4.2% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 246,011 shares of the company’s stock valued at $12,702,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 26.41% 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 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.