FOX (NASDAQ:FOXA) Sets New 1-Year High – What’s Next?

Fox Co. (NASDAQ:FOXA)’s share price hit a new 52-week high during trading 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.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FOXA shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. StockNews.com cut FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Macquarie reiterated a “neutral” rating and set a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Morgan Stanley increased their price objective on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, Bank of America upped 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. One investment 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $51.00.

FOX Price Performance

The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 12.19, 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. The company has a 50-day moving average of $50.83 and a 200-day moving average of $45.46.

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, beating analysts’ consensus estimates of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business’s revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. As a group, equities research analysts predict that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be issued a $0.27 dividend. 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 presently 11.56%.

Insider Activity at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred on 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 of the company’s stock, 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 filing with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of hedge funds have recently bought and sold shares of the business. WealthTrak Capital Management LLC bought a new position in FOX during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. lifted its position in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after purchasing an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in FOX during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp grew its position in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after purchasing an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after purchasing an additional 368 shares during the period. Institutional investors and hedge funds 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.