FOX (NASDAQ:FOX) Sets New 12-Month High at $38.38

Fox Co. (NASDAQ:FOX)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $38.38 and last traded at $38.36, with a volume of 39967 shares trading hands. The stock had previously closed at $38.14.

Analyst Upgrades and Downgrades

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

FOX Stock Up 0.7 %

The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average price of $34.27 and a two-hundred day moving average price of $30.80. The company has a market capitalization of $17.92 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 5.71 and a beta of 0.82.

FOX (NASDAQ:FOX) last announced its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. FOX had a return on equity of 15.90% and a net margin of 11.19%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the company posted $0.88 EPS. As a group, sell-side analysts expect that Fox Co. will post 3.32 earnings per share for the current year.

FOX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.27 per share. This is a boost from FOX’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 4th. This represents a $1.08 annualized dividend and a dividend yield of 2.81%. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Insider Buying and Selling

In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Steven Tomsic sold 30,000 shares of the business’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 transaction, the chief financial officer now owns 110,568 shares in the company, valued at approximately $3,788,059.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. 19.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of FOX in the fourth quarter valued at $70,598,000. Assenagon Asset Management S.A. purchased a new position in FOX in the 2nd quarter worth about $65,709,000. Bank of Nova Scotia increased its position in shares of FOX by 315.5% in the fourth quarter. Bank of Nova Scotia now owns 1,052,781 shares of the company’s stock worth $29,108,000 after acquiring an additional 799,383 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of FOX by 315.0% during the fourth quarter. National Bank of Canada FI now owns 917,745 shares of the company’s stock valued at $25,825,000 after acquiring an additional 696,610 shares during the period. Finally, Independent Franchise Partners LLP boosted its stake in FOX by 14.5% in the 2nd quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock worth $160,863,000 after purchasing an additional 636,247 shares during the period. 26.41% of the stock is owned by institutional investors.

FOX Company Profile

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.