FOX (NASDAQ:FOXA) Hits New 12-Month High at $41.62

Fox Co. (NASDAQ:FOXA)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $41.62 and last traded at $41.48, with a volume of 147378 shares. The stock had previously closed at $41.11.

Wall Street Analyst Weigh In

FOXA has been the subject of a number of research reports. Wells Fargo & Company raised shares of FOX from an “underweight” rating to an “overweight” rating and upped their target price for the company from $29.00 to $46.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. The Goldman Sachs Group lifted their price target on shares of FOX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Evercore ISI upped their target price on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research report on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $38.23.

FOX Stock Performance

The company has a market cap of $19.39 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The business has a 50-day moving average of $39.29 and a two-hundred day moving average of $34.90.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts predict that Fox Co. will post 3.72 EPS for the current fiscal year.

FOX Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a $0.27 dividend. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a yield of 1.4%. FOX’s dividend payout ratio (DPR) is 16.93%.

Insider Activity

In other news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other FOX news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Several institutional investors and hedge funds have recently modified their holdings of FOXA. Massmutual Trust Co. FSB ADV lifted its position in shares of FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after buying an additional 461 shares in the last quarter. UMB Bank n.a. increased its stake in shares of FOX by 254.4% during the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock worth $35,000 after purchasing an additional 809 shares in the last quarter. Friedenthal Financial acquired a new position in shares of FOX during the 2nd quarter worth about $51,000. Duncker Streett & Co. Inc. acquired a new stake in FOX in the 2nd quarter worth about $52,000. Finally, Meeder Asset Management Inc. purchased a new stake in FOX during the 1st quarter worth approximately $66,000. Hedge funds and other institutional investors 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.