FOX (NASDAQ:FOX) Reaches New 1-Year High at $39.09

Fox Co. (NASDAQ:FOX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $39.09 and last traded at $38.99, with a volume of 43471 shares. The stock had previously closed at $38.84.

Analyst Upgrades and Downgrades

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

FOX Trading Down 0.2 %

The company has a fifty day moving average of $36.84 and a two-hundred day moving average of $32.65. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $18.09 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.97 and a beta of 0.81.

FOX (NASDAQ:FOX) last released its 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 company 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 quarter last year, the business earned $0.88 EPS. On average, research analysts expect that Fox Co. will post 3.59 EPS for the current year.

FOX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.79%. This is an increase from FOX’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, September 4th. FOX’s dividend payout ratio is 16.93%.

Insiders Place Their Bets

In other news, COO John Nallen sold 52,874 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FOX news, COO John Nallen sold 52,874 shares of the business’s 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 sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The disclosure for this purchase can be found here. Insiders own 19.21% of the company’s stock.

Institutional Trading of FOX

Several large investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in FOX in the 2nd quarter valued at approximately $136,000. Sanctuary Advisors LLC acquired a new position in FOX in the 2nd quarter valued at about $369,000. Aurora Investment Counsel lifted its holdings in FOX by 4.2% in the 2nd quarter. Aurora Investment Counsel now owns 56,113 shares of the company’s stock valued at $1,797,000 after purchasing an additional 2,249 shares in the last quarter. Heartland Bank & Trust Co lifted its holdings in FOX by 4.5% in the 2nd quarter. Heartland Bank & Trust Co now owns 17,434 shares of the company’s stock valued at $558,000 after purchasing an additional 745 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its stake in shares of FOX by 21.5% during the 2nd quarter. Brandes Investment Partners LP now owns 1,273,492 shares of the company’s stock worth $40,758,000 after purchasing an additional 225,768 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

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.