FOX (NASDAQ:FOX) Hits New 52-Week High at $38.70

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

Wall Street Analyst Weigh In

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

FOX Price Performance

The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The stock has a 50-day simple moving average of $36.50 and a 200 day simple moving average of $32.32. The stock has a market capitalization of $18.11 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.90 and a beta of 0.81.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. During the same period last year, the company posted $0.88 earnings per share. On average, equities research analysts forecast that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. This is a boost from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Wednesday, September 4th. FOX’s payout ratio is currently 16.93%.

Insider Buying and Selling

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

Institutional Trading of FOX

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in shares of FOX by 692.1% in 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 during the last quarter. Friedenthal Financial bought a new position in FOX in the 2nd quarter worth $51,000. V Square Quantitative Management LLC lifted its position 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 acquiring an additional 585 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in FOX during the first quarter valued at about $97,000. Finally, GAMMA Investing LLC grew its position in shares of FOX by 267.9% in the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock valued at $113,000 after purchasing an additional 2,569 shares during the last quarter. Institutional investors and hedge funds own 26.41% 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.