FOX (NASDAQ:FOX) Reaches New 52-Week High – Still a Buy?

Shares of Fox Co. (NASDAQ:FOX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $52.54 and last traded at $52.35, with a volume of 151949 shares changing hands. The stock had previously closed at $52.39.

Wall Street Analysts Forecast Growth

Separately, Moffett Nathanson downgraded FOX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st.

FOX Price Performance

The company has a 50-day moving average price of $47.35 and a two-hundred day moving average price of $42.16. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.33. The company has a market cap of $24.09 billion, a PE ratio of 11.30, a P/E/G ratio of 1.47 and a beta of 0.82.

FOX (NASDAQ:FOX) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.35. FOX had a return on equity of 18.50% and a net margin of 14.39%. During the same period in the prior year, the business earned $0.34 earnings per share. Sell-side analysts expect that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is 11.56%.

Insider Buying and Selling

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total value of $35,521,075.68. The disclosure for this sale can be found here. Insiders own 23.06% of the company’s stock.

Institutional Trading of FOX

A number of institutional investors and hedge funds have recently made changes to their positions in FOX. Migdal Insurance & Financial Holdings Ltd. bought a new position in FOX in the 4th quarter worth approximately $29,000. Glenmede Trust Co. NA boosted its stake in FOX by 136.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after purchasing an additional 449 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in FOX by 135.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company’s stock valued at $42,000 after purchasing an additional 522 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of FOX by 51.5% during the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after acquiring an additional 362 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of FOX by 82.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company’s stock worth $61,000 after acquiring an additional 608 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

FOX Company Profile

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.