FOX (NASDAQ:FOX) Hits New 1-Year High at $38.70

Fox Co. (NASDAQ:FOX)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $38.70 and last traded at $38.69, with a volume of 121483 shares trading hands. The stock had previously closed at $37.82.

Analysts Set New Price Targets

Separately, Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th.

FOX Trading Up 2.6 %

The firm’s fifty day moving average price is $36.50 and its 200-day moving average price is $32.32. The company has a market cap of $18.11 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 1.90 and a beta of 0.81. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33.

FOX (NASDAQ:FOX) last posted 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 net margin of 10.74% and a return on equity of 15.57%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the business posted $0.88 EPS. On average, equities analysts expect that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.78%. This is a positive change from FOX’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 4th. FOX’s dividend payout ratio is 16.93%.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 52,874 shares of the 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 completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other FOX news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The disclosure for this purchase can be found here. 19.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On FOX

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in FOX by 692.1% during the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock worth $45,000 after buying an additional 1,232 shares in the last quarter. Friedenthal Financial acquired a new position in shares of FOX in the 2nd quarter valued at $51,000. V Square Quantitative Management LLC raised its holdings in FOX by 20.8% during the 4th quarter. V Square Quantitative Management LLC now owns 3,391 shares of the company’s stock worth $94,000 after buying an additional 585 shares during the period. Central Pacific Bank Trust Division purchased a new stake in FOX during the first quarter valued at about $97,000. Finally, TFO Wealth Partners LLC boosted its holdings in shares of FOX by 67,566.7% in the fourth quarter. TFO Wealth Partners LLC now owns 4,060 shares of the company’s stock worth $112,000 after buying an additional 4,054 shares during the period. 26.41% of the stock is currently owned by institutional investors and hedge funds.

About FOX

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.