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

Fox Co. (NASDAQ:FOX)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $39.32 and last traded at $39.22, with a volume of 46345 shares changing hands. The stock had previously closed at $39.07.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays raised FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th.

FOX Stock Down 0.1 %

The firm has a 50-day moving average price of $37.77 and a two-hundred day moving average price of $33.64. The company has a market capitalization of $18.23 billion, a P/E ratio of 12.21, a PEG ratio of 2.01 and a beta of 0.81. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61.

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

FOX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.77%. This is a positive change from FOX’s previous quarterly dividend of $0.26. FOX’s dividend payout ratio (DPR) is currently 16.93%.

Insider Buying and Selling at FOX

In other news, CEO Lachlan K. Murdoch purchased 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 purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John Nallen sold 52,874 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.21% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FOX. Blue Trust Inc. grew its position in shares of FOX by 692.1% in the 2nd quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after acquiring an additional 1,232 shares during the period. Friedenthal Financial bought a new position in FOX during the second quarter worth about $51,000. Exchange Traded Concepts LLC acquired a new position in FOX during the third quarter worth approximately $128,000. Central Pacific Bank Trust Division bought a new stake in FOX in the first quarter valued at approximately $97,000. Finally, GAMMA Investing LLC lifted its position in shares of FOX by 267.9% in the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock valued at $113,000 after buying an additional 2,569 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.