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

Fox Co. (NASDAQ:FOX) shares hit a new 52-week high on Friday . The stock traded as high as $39.32 and last traded at $39.22, with a volume of 46345 shares. The stock had previously closed at $39.07.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FOX shares. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Barclays raised FOX to a “hold” rating in a research report on Wednesday, October 9th.

FOX Price Performance

The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $18.23 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81. The company’s 50 day moving average is $37.77 and its 200 day moving average is $33.64.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share 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 business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the company earned $0.88 earnings per share. Research analysts anticipate that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.27 per share. 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. The ex-dividend date was Wednesday, September 4th. FOX’s payout ratio is 16.93%.

Insider Buying and Selling at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Lachlan K. Murdoch bought 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly 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. 19.21% of the stock is owned by corporate insiders.

Institutional Trading of FOX

Large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in FOX by 692.1% in the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock worth $45,000 after purchasing an additional 1,232 shares during the period. Friedenthal Financial acquired a new position in shares of FOX in the 2nd quarter valued at about $51,000. Central Pacific Bank Trust Division bought a new stake in shares of FOX during the 1st quarter valued at about $97,000. GAMMA Investing LLC raised its stake in FOX by 267.9% during the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock worth $113,000 after acquiring an additional 2,569 shares during the period. Finally, Covestor Ltd lifted its holdings in FOX by 280.5% in the first quarter. Covestor Ltd now owns 3,995 shares of the company’s stock worth $114,000 after acquiring an additional 2,945 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

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.