FOX (NASDAQ:FOXA) Hits New 1-Year High – Should You Buy?

Fox Co. (NASDAQ:FOXA)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $50.66 and last traded at $50.20, with a volume of 1731122 shares changing hands. The stock had previously closed at $49.07.

Analyst Ratings Changes

A number of research firms have weighed in on FOXA. TD Cowen boosted their price objective on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Wells Fargo & Company upped their price objective on shares of FOX from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Friday, January 10th. Loop Capital lifted their target price on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. StockNews.com cut shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.25.

FOX Stock Performance

The firm has a market capitalization of $23.03 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.19 and a beta of 0.75. The stock has a 50-day moving average price of $48.08 and a 200 day moving average price of $43.42. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts forecast that Fox Co. will post 4.09 EPS for the current year.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock worth $20,822,072 over the last 90 days. Corporate insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in shares of FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after purchasing an additional 425,186 shares during the period. KBC Group NV increased its holdings in FOX by 56.1% in the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after buying an additional 851,127 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of FOX by 228.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after acquiring an additional 964,737 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of FOX by 308.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock worth $59,174,000 after acquiring an additional 919,883 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in FOX by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after purchasing an additional 110,753 shares during the last quarter. 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.