FOX (NASDAQ:FOXA) Hits New 52-Week High – What’s Next?

Shares of Fox Co. (NASDAQ:FOXA) reached a new 52-week high during trading on Monday . The stock traded as high as $58.60 and last traded at $58.20, with a volume of 180813 shares. The stock had previously closed at $57.60.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FOXA shares. JPMorgan Chase & Co. upped their price objective on shares of FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Loop Capital upped their price target on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Evercore ISI upgraded FOX to a “hold” rating in a report on Tuesday, November 5th. The Goldman Sachs Group set a $60.00 target price on FOX and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, UBS Group raised their price target on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $51.19.

FOX Stock Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The company’s 50-day moving average price is $51.95 and its 200 day moving average price is $46.43. The stock has a market capitalization of $25.55 billion, a PE ratio of 12.06, a PEG ratio of 1.27 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 EPS. On average, equities research analysts expect that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio (DPR) is 11.56%.

Insider Activity

In related news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH bought a new position in shares of FOX during the fourth quarter valued at $987,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in FOX during the 4th quarter valued at about $7,855,000. Jefferies Financial Group Inc. bought a new stake in FOX during the 4th quarter valued at about $1,404,000. Mackenzie Financial Corp increased its stake in FOX by 31.8% during the 4th quarter. Mackenzie Financial Corp now owns 14,409 shares of the company’s stock valued at $700,000 after purchasing an additional 3,479 shares in the last quarter. Finally, Forum Financial Management LP purchased a new position in FOX in the fourth quarter worth about $324,000. 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 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.