FOX (NASDAQ:FOXA) Sets New 52-Week High - Here's What Happened

Fox Co. (NASDAQ:FOXA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $49.30 and last traded at $49.07, with a volume of 6273535 shares traded. The stock had previously closed at $47.06.

Analyst Upgrades and Downgrades

FOXA has been the topic of several research reports. Evercore ISI raised FOX to a "hold" rating in a research report on Tuesday, November 5th. StockNews.com lowered FOX from a "buy" rating to a "hold" rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on FOX from $41.00 to $42.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Wells Fargo & Company boosted their target price on shares of FOX from $46.00 to $49.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Finally, Citigroup raised their price target on shares of FOX from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, FOX presently has an average rating of "Hold" and a consensus price target of $46.47.

FOX Stock Performance

The stock has a fifty day simple moving average of $44.83 and a two-hundred day simple moving average of $40.39. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The stock has a market cap of $22.58 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.18 and a beta of 0.77.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. Analysts expect that Fox Co. will post 3.94 EPS for the current fiscal year.

Insider Activity at FOX

In related news, COO John Nallen sold 182,481 shares of the firm's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now owns 249,424 shares of the company's stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 469,352 shares of company stock valued at $20,822,072. 21.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FOXA. Entropy Technologies LP acquired a new stake in FOX in the third quarter valued at $546,000. Invst LLC bought a new stake in shares of FOX in the 3rd quarter valued at about $740,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of FOX in the third quarter valued at about $2,867,000. Edgestream Partners L.P. raised its position in shares of FOX by 343.1% during the second quarter. Edgestream Partners L.P. now owns 203,956 shares of the company's stock worth $7,010,000 after acquiring an additional 157,927 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of FOX by 9.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 712,593 shares of the company's stock worth $24,492,000 after acquiring an additional 62,920 shares during the period. Institutional investors and hedge funds own 52.52% 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.