FOX (NASDAQ:FOX) Reaches New 52-Week High at $39.09

Fox Co. (NASDAQ:FOX)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $39.09 and last traded at $38.99, with a volume of 43471 shares. The stock had previously closed at $38.84.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th.

FOX Price Performance

The stock has a market cap of $18.09 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.97 and a beta of 0.81. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average is $36.84 and its two-hundred day moving average is $32.65.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. As a group, research analysts predict that Fox Co. will post 3.59 earnings per share for the current year.

FOX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Wednesday, September 4th. This is a boost from FOX’s previous quarterly dividend of $0.26. FOX’s dividend payout ratio is currently 16.93%.

Insider Activity at FOX

In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. Company insiders own 19.21% of the company’s stock.

Institutional Investors Weigh In On FOX

Several institutional investors have recently added to or reduced their stakes in the business. Independent Franchise Partners LLP lifted its position in shares of FOX by 14.5% during the 2nd quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock worth $160,863,000 after buying an additional 636,247 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of FOX by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock valued at $74,483,000 after purchasing an additional 272,743 shares during the period. Assenagon Asset Management S.A. acquired a new position in FOX during the second quarter worth approximately $65,709,000. Janus Henderson Group PLC boosted its holdings in shares of FOX by 7.8% in the first quarter. Janus Henderson Group PLC now owns 1,535,668 shares of the company’s stock valued at $43,953,000 after acquiring an additional 111,687 shares during the period. Finally, Brandes Investment Partners LP grew its position in shares of FOX by 21.5% during the second quarter. Brandes Investment Partners LP now owns 1,273,492 shares of the company’s stock worth $40,758,000 after acquiring an additional 225,768 shares during the last quarter. Hedge funds and other institutional investors 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 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.