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

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

Analysts Set New Price Targets

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

FOX Trading Down 0.4 %

The firm has a market capitalization of $24.20 billion, a P/E ratio of 11.43, a PEG ratio of 1.54 and a beta of 0.82. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $47.72 and a 200-day moving average price of $42.37.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 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 period last year, the business posted $0.34 EPS. Analysts anticipate that Fox Co. will post 4.25 earnings per share for the current year.

FOX Dividend Announcement

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

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 771,024 shares of the business’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction 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 directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 23.06% of the stock is owned by insiders.

Hedge Funds Weigh In On FOX

A number of institutional investors and hedge funds have recently bought and sold shares of FOX. Norges Bank acquired a new position in FOX in the fourth quarter worth $138,822,000. Contrarius Group Holdings Ltd bought a new stake in shares of FOX during the fourth quarter worth $57,766,000. Assenagon Asset Management S.A. raised its position in shares of FOX by 58.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock worth $135,890,000 after acquiring an additional 1,095,073 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of FOX during the fourth quarter worth $48,606,000. Finally, National Bank of Canada FI raised its position in shares of FOX by 212.7% during the third quarter. National Bank of Canada FI now owns 1,437,637 shares of the company’s stock worth $55,780,000 after acquiring an additional 977,907 shares during the last quarter. Institutional investors and hedge funds own 26.41% of the company’s stock.

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.