FOX (NASDAQ:FOXA) Reaches New 12-Month High After Insider Buying Activity

Fox Co. (NASDAQ:FOXA)’s share price reached a new 52-week high on Monday after an insider bought additional shares in the company. The stock traded as high as $39.84 and last traded at $39.69, with a volume of 334992 shares changing hands. The stock had previously closed at $39.54.

Specifically, CEO Lachlan K. Murdoch purchased 119,705 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

FOXA has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on shares of FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Evercore ISI boosted their price objective on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research report on Wednesday, August 7th. Barclays raised their target price on FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, May 13th. Wells Fargo & Company upgraded shares of FOX from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $29.00 to $46.00 in a research report on Friday, August 16th. Finally, Macquarie increased their price objective on shares of FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, FOX presently has a consensus rating of “Hold” and a consensus price target of $38.23.

FOX Trading Up 0.9 %

The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $36.36 and a 200-day moving average price of $33.09. The company has a market capitalization of $18.70 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.51 and a beta of 0.77.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 11.19% and a return on equity of 15.90%. FOX’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. As a group, sell-side analysts predict that Fox Co. will post 3.33 EPS for the current year.

FOX Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. This represents a yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 4th. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its stake in shares of FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after acquiring an additional 461 shares in the last quarter. UMB Bank n.a. raised its holdings in FOX by 254.4% during the 1st quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock worth $35,000 after buying an additional 809 shares during the period. Global Retirement Partners LLC lifted its stake in FOX by 38.4% during the first quarter. Global Retirement Partners LLC now owns 1,305 shares of the company’s stock valued at $41,000 after buying an additional 362 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of FOX in the fourth quarter worth about $43,000. Finally, Friedenthal Financial purchased a new position in shares of FOX in the second quarter worth approximately $51,000. Institutional investors own 52.52% of the company’s stock.

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.