FOX (NASDAQ:FOX) Reaches New 12-Month High – Should You Buy?

Shares of Fox Co. (NASDAQ:FOX) reached a new 52-week high on Monday . The stock traded as high as $54.90 and last traded at $54.65, with a volume of 218488 shares trading hands. The stock had previously closed at $54.07.

Wall Street Analyst Weigh In

Separately, Moffett Nathanson lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st.

FOX Trading Down 0.1 %

The business’s 50 day simple moving average is $49.05 and its 200 day simple moving average is $43.50. 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 company has a market capitalization of $23.84 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.35. FOX had a return on equity of 18.50% and a net margin of 14.39%. During the same period in the previous year, the firm posted $0.34 EPS. Research analysts anticipate that Fox Co. will post 4.25 EPS for the current year.

FOX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Wednesday, March 5th. FOX’s payout ratio is currently 11.56%.

Insider Buying and Selling

In other news, insider Adam G. Ciongoli sold 1,278 shares of the business’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 transaction, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System boosted its position in shares of FOX by 7.8% during the 3rd quarter. New York State Teachers Retirement System now owns 174,824 shares of the company’s stock worth $6,783,000 after purchasing an additional 12,656 shares in the last quarter. Intact Investment Management Inc. purchased a new position in shares of FOX in the 3rd quarter valued at about $74,000. Summit Global Investments acquired a new stake in shares of FOX in the third quarter valued at about $768,000. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in FOX by 78.4% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 18,529 shares of the company’s stock worth $719,000 after buying an additional 8,143 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in FOX by 6.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 385,822 shares of the company’s stock worth $14,970,000 after buying an additional 24,909 shares during the period. Institutional investors and hedge funds 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.