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

Fox Co. (NASDAQ:FOXA) reached a new 52-week high during trading on Tuesday . The company traded as high as $45.96 and last traded at $45.91, with a volume of 190523 shares changing hands. The stock had previously closed at $45.79.

Analyst Ratings Changes

FOXA has been the subject of a number of research reports. Barclays boosted their price target on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Macquarie reaffirmed a “neutral” rating and set a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. Bank of America raised their target price on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Morgan Stanley upped their price target on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Evercore ISI raised shares of FOX to a “hold” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.00.

FOX Stock Performance

The stock’s 50 day moving average price is $41.75 and its two-hundred day moving average price is $37.80. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.14 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts forecast that Fox Co. will post 3.94 EPS for the current year.

Insider Activity at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the company’s 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 sale, the chief operating officer now owns 249,424 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John Nallen sold 52,874 shares of the firm’s 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 335,355 shares of company stock valued at $14,244,865 in the last ninety days. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. increased its position in FOX by 35.3% during the 3rd quarter. Citigroup Inc. now owns 593,104 shares of the company’s stock worth $25,106,000 after purchasing an additional 154,680 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of FOX by 44,205.3% during the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after purchasing an additional 7,897,710 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of FOX in the third quarter valued at approximately $5,043,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of FOX by 7.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 261,089 shares of the company’s stock valued at $11,052,000 after buying an additional 17,149 shares during the period. Finally, Commerce Bank acquired a new stake in FOX during the third quarter worth approximately $301,000. 52.52% of the stock is currently 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.