FOX (NASDAQ:FOXA) Reaches New 12-Month High – Time to Buy?

Fox Co. (NASDAQ:FOXA) reached a new 52-week high during trading on Monday . The stock traded as high as $58.60 and last traded at $58.20, with a volume of 180813 shares traded. The stock had previously closed at $57.60.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FOXA shares. Barclays boosted their target price on FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Evercore ISI raised shares of FOX to a “hold” rating in a report on Tuesday, November 5th. Guggenheim raised their target price on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Macquarie reaffirmed a “neutral” rating and issued a $43.00 target price on shares of FOX in a research report on Tuesday, November 5th. Finally, Bank of America increased their price target on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.19.

FOX Trading Up 0.2 %

The stock has a 50-day moving average price of $51.95 and a two-hundred day moving average price of $46.43. The stock has a market capitalization of $25.55 billion, a PE ratio of 12.06, a PEG ratio of 1.27 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 EPS. As a group, equities analysts forecast that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

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

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after acquiring an additional 110,753 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of FOX in the 3rd quarter worth approximately $546,000. Invst LLC bought a new position in shares of FOX during the third quarter valued at approximately $740,000. Asset Management One Co. Ltd. raised its stake in FOX by 25.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after buying an additional 23,704 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in FOX during the third quarter worth $2,867,000. Institutional investors own 52.52% 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.