FOX (NASDAQ:FOX) Hits New 1-Year High – Still a Buy?

Shares of Fox Co. (NASDAQ:FOX) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.90 and last traded at $54.65, with a volume of 218488 shares trading hands. The stock had previously closed at $54.07.

Analyst Upgrades and Downgrades

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

FOX Stock Down 0.1 %

The business’s fifty day moving average is $49.05 and its two-hundred day moving average is $43.50. The stock has a market cap of $23.84 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.55 and a beta of 0.82. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

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

FOX Announces Dividend

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

Insider Buying and Selling at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value 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 represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FOX. New York State Teachers Retirement System increased its stake in FOX by 7.8% in the third quarter. New York State Teachers Retirement System now owns 174,824 shares of the company’s stock valued at $6,783,000 after purchasing an additional 12,656 shares during the last quarter. Intact Investment Management Inc. purchased a new position in shares of FOX in the 3rd quarter valued at $74,000. Summit Global Investments acquired a new stake in FOX during the 3rd quarter worth $768,000. OVERSEA CHINESE BANKING Corp Ltd lifted its position in FOX by 78.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 18,529 shares of the company’s stock valued at $719,000 after acquiring an additional 8,143 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in FOX by 6.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 385,822 shares of the company’s stock valued at $14,970,000 after acquiring an additional 24,909 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

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.