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

Fox Co. (NASDAQ:FOXA)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $52.09 and last traded at $51.98, with a volume of 2208579 shares. The stock had previously closed at $51.18.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TD Cowen boosted their price objective on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Citigroup increased their price objective on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Guggenheim raised their price target on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group boosted their price target on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, StockNews.com cut FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.19.

FOX Price Performance

The firm has a 50 day moving average price of $48.63 and a 200-day moving average price of $43.95. The firm has a market capitalization of $24.91 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.62 by $0.34. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. On average, analysts expect that Fox Co. will post 4.12 earnings per share for the current year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a yield of 1%. FOX’s payout ratio is 13.20%.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of FOX by 10.9% in 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. Entropy Technologies LP acquired a new position in shares of FOX during the 3rd quarter worth about $546,000. Invst LLC purchased a new position in shares of FOX in the third quarter valued at approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of FOX in the third quarter worth approximately $2,867,000. Finally, Park Avenue Securities LLC increased its position in shares of FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after purchasing an additional 3,787 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.