FOX (NASDAQ:FOX) Hits New 12-Month High - Still a Buy?

Shares of Fox Co. (NASDAQ:FOX - Get Free Report) 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 changing hands. The stock had previously closed at $54.07.

Analysts Set New Price Targets

Separately, Moffett Nathanson downgraded FOX from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st.

FOX Trading Down 2.0 %

The firm has a 50-day moving average price of $49.16 and a 200-day moving average price of $43.56. The stock has a market cap of $23.35 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50.

FOX (NASDAQ:FOX - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (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 firm earned $0.34 EPS. As a group, equities analysts anticipate that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid 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 2.10%. FOX's dividend payout ratio is 11.56%.

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Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares of the company's stock, valued at $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.06% of the company's stock.

Institutional Trading of FOX

A number of hedge funds have recently bought and sold shares of FOX. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of FOX during the 4th quarter valued at about $29,000. Glenmede Trust Co. NA boosted its holdings in shares of FOX by 136.9% in the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company's stock worth $30,000 after buying an additional 449 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in FOX by 135.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company's stock valued at $42,000 after buying an additional 522 shares during the period. Principal Securities Inc. grew its position in FOX by 51.5% during the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company's stock valued at $49,000 after buying an additional 362 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in FOX by 82.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company's stock valued at $61,000 after buying an additional 608 shares during the last quarter. Hedge funds and other institutional investors 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 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.