FOX (NASDAQ:FOXA) Hits New 1-Year High – Here’s Why

Fox Co. (NASDAQ:FOXA)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $57.72 and last traded at $57.48, with a volume of 8093392 shares changing hands. The stock had previously closed at $56.29.

Analyst Ratings Changes

A number of research firms recently issued reports on FOXA. Barclays lifted their price objective on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Loop Capital boosted their target price on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Bank of America raised their price objective on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Evercore ISI upgraded shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. Finally, TD Cowen increased their target price on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.00.

FOX Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The stock’s 50 day simple moving average is $50.83 and its two-hundred day simple moving average is $45.46. The stock has a market capitalization of $25.82 billion, a PE ratio of 12.19, a PEG ratio of 1.27 and a beta of 0.76.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, sell-side analysts expect that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a yield of 1%. FOX’s payout ratio is 11.56%.

Insider Activity at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in FOX by 5.4% in the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after buying an additional 425,186 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in FOX by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company’s stock valued at $185,344,000 after purchasing an additional 39,959 shares in the last quarter. Northern Trust Corp boosted its position in shares of FOX by 17.1% in the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock worth $170,111,000 after purchasing an additional 511,554 shares during the period. Norges Bank purchased a new stake in shares of FOX in the fourth quarter worth $132,161,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of FOX by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company’s stock valued at $130,043,000 after purchasing an additional 219,016 shares during the period. 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 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.