FOX (NASDAQ:FOX) Hits New 52-Week High at $37.13

Fox Co. (NASDAQ:FOX) reached a new 52-week high during trading on Tuesday . The company traded as high as $37.13 and last traded at $37.03, with a volume of 128615 shares. The stock had previously closed at $36.88.

Analysts Set New Price Targets

Separately, Seaport Res Ptn upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 9th.

FOX Stock Performance

The stock has a market cap of $17.34 billion, a P/E ratio of 11.60, a PEG ratio of 5.71 and a beta of 0.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. The firm’s 50-day moving average price is $33.74 and its 200-day moving average price is $30.55.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. FOX had a net margin of 11.19% and a return on equity of 15.90%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the company earned $0.88 EPS. Sell-side analysts expect that Fox Co. will post 3.32 earnings per share for the current fiscal year.

FOX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from FOX’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 4th. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the transaction, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the completion of the sale, the chief financial officer now owns 110,568 shares in the company, valued at $3,788,059.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The disclosure for this purchase can be found here. Corporate insiders own 19.21% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of large investors have recently modified their holdings of FOX. Independent Franchise Partners LLP raised its stake in FOX by 14.5% during the 2nd quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock valued at $160,863,000 after acquiring an additional 636,247 shares in the last quarter. Norges Bank acquired a new position in shares of FOX in the 4th quarter worth $70,598,000. Dimensional Fund Advisors LP grew its holdings in shares of FOX by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock valued at $74,483,000 after buying an additional 272,743 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of FOX during the second quarter valued at $65,709,000. Finally, Janus Henderson Group PLC boosted its position in FOX by 7.8% during the first quarter. Janus Henderson Group PLC now owns 1,535,668 shares of the company’s stock valued at $43,953,000 after purchasing an additional 111,687 shares during the last quarter. 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 Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.