FOX (NASDAQ:FOX) Reaches New 52-Week High at $38.51

Fox Co. (NASDAQ:FOX)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $38.51 and last traded at $38.35, with a volume of 210625 shares trading hands. The stock had previously closed at $38.03.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn upgraded FOX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 9th.

FOX Price Performance

The stock’s 50 day simple moving average is $35.43 and its 200-day simple moving average is $31.41. The firm has a market cap of $17.44 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 2.00 and a beta of 0.82. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. During the same period in the previous year, the company earned $0.88 earnings per share. Equities research analysts anticipate that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.89%. This is a boost from FOX’s previous quarterly 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%.

Insider Activity at FOX

In other news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, 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 hyperlink. In other news, COO John Nallen sold 52,874 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, 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 insiders.

Institutional Trading of FOX

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC boosted its holdings in FOX by 27.9% during the fourth quarter. CWM LLC now owns 2,486 shares of the company’s stock worth $69,000 after buying an additional 543 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in FOX by 112.0% during the fourth quarter. Russell Investments Group Ltd. now owns 67,337 shares of the company’s stock worth $1,865,000 after buying an additional 35,575 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in FOX by 2.3% during the fourth quarter. Victory Capital Management Inc. now owns 64,882 shares of the company’s stock worth $1,794,000 after buying an additional 1,480 shares in the last quarter. Amalgamated Bank boosted its holdings in FOX by 3.4% during the fourth quarter. Amalgamated Bank now owns 34,848 shares of the company’s stock worth $964,000 after buying an additional 1,162 shares in the last quarter. Finally, Metis Global Partners LLC boosted its holdings in FOX by 6.0% during the fourth quarter. Metis Global Partners LLC now owns 15,077 shares of the company’s stock worth $417,000 after buying an additional 853 shares in the last quarter. Institutional investors and hedge funds 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 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.