FOX (NASDAQ:FOX) Trading 3.6% Higher - Should You Buy?

Fox Co. (NASDAQ:FOX - Get Free Report) shot up 3.6% during trading on Monday . The company traded as high as $52.38 and last traded at $52.36. 1,169,087 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 1,179,118 shares. The stock had previously closed at $50.52.

Analysts Set New Price Targets

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

FOX Trading Down 4.5 %

The firm's fifty day moving average is $50.75 and its 200-day moving average is $45.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The firm has a market cap of $20.74 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58.

FOX (NASDAQ:FOX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.35. FOX had a return on equity of 18.50% and a net margin of 14.39%. During the same period last year, the firm earned $0.34 EPS. Equities analysts anticipate that Fox Co. will post 4.25 earnings per share for the current year.

Remove Ads

FOX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Wednesday, March 5th. FOX's payout ratio is 11.56%.

Insider Activity

In related news, insider Adam G. Ciongoli sold 1,278 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were 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 approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares of the company's stock, valued at $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. Company insiders own 23.06% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Yousif Capital Management LLC grew its stake in shares of FOX by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 19,098 shares of the company's stock worth $874,000 after acquiring an additional 212 shares in the last quarter. iA Global Asset Management Inc. increased its stake in FOX by 5.4% in the 4th quarter. iA Global Asset Management Inc. now owns 6,801 shares of the company's stock valued at $311,000 after buying an additional 350 shares during the last quarter. Principal Securities Inc. lifted its position in shares of FOX by 51.5% during the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company's stock worth $49,000 after buying an additional 362 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of FOX by 136.9% in the 3rd 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. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of FOX by 135.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company's stock valued at $42,000 after acquiring an additional 522 shares in 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.