FOX (NASDAQ:FOX) Reaches New 52-Week High – Here’s What Happened

Shares of Fox Co. (NASDAQ:FOX) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $49.32 and last traded at $49.05, with a volume of 489013 shares trading hands. The stock had previously closed at $48.60.

Analysts Set New Price Targets

A number of analysts have weighed in on FOX shares. Moffett Nathanson cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays upgraded shares of FOX to a “hold” rating in a report on Wednesday, October 9th.

FOX Stock Performance

The firm has a market capitalization of $23.42 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.76 and a beta of 0.82. The stock has a fifty day moving average price of $46.10 and a 200-day moving average price of $41.13. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOX) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.35. FOX had a return on equity of 16.49% and a net margin of 13.40%. During the same quarter last year, the company posted $0.34 earnings per share. As a group, analysts anticipate that Fox Co. will post 3.91 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is presently 13.20%.

Insiders Place Their Bets

In other news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total transaction of $35,521,075.68. The disclosure for this sale can be found here. Company insiders own 23.06% of the company’s stock.

Institutional Investors Weigh In On FOX

Several institutional investors have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. bought a new position in FOX in the fourth quarter worth $29,000. Glenmede Trust Co. NA lifted its holdings in FOX by 136.9% in the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after acquiring an additional 449 shares during the period. Principal Securities Inc. raised its stake in shares of FOX by 51.5% in the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after buying an additional 362 shares during the period. Intact Investment Management Inc. bought a new position in shares of FOX in the third quarter worth about $74,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of FOX in the third quarter worth about $128,000. 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 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.