FOX (NASDAQ:FOXA) Reaches New 52-Week High at $41.35

Fox Co. (NASDAQ:FOXA - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $41.35 and last traded at $41.29, with a volume of 57398 shares changing hands. The stock had previously closed at $41.01.

Wall Street Analyst Weigh In

FOXA has been the subject of several recent analyst reports. Wells Fargo & Company upgraded shares of FOX from an "underweight" rating to an "overweight" rating and raised their target price for the company from $29.00 to $46.00 in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their target price on FOX from $36.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Barclays boosted their price target on FOX from $33.00 to $36.00 and gave the company an "equal weight" rating in a research note on Monday, May 13th. Macquarie increased their price objective on shares of FOX from $32.00 to $35.00 and gave the stock a "neutral" rating in a research note on Monday, August 12th. Finally, Rosenblatt Securities boosted their target price on shares of FOX from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $38.23.

FOX Stock Up 0.2 %

The company has a market capitalization of $19.17 billion, a P/E ratio of 12.86, a PEG ratio of 1.51 and a beta of 0.77. The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67. The stock has a 50 day moving average price of $36.80 and a 200 day moving average price of $33.30.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. On average, research analysts anticipate that Fox Co. will post 3.33 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.27 per share. This is a positive change from FOX's previous Semi-Annual dividend of $0.26. This represents a yield of 1.4%. The ex-dividend date is Wednesday, September 4th. FOX's dividend payout ratio (DPR) is currently 16.93%.

Insider Transactions at FOX

In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of the firm's 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 completion of the purchase, the chief executive officer now directly owns 1,076,407 shares of the company's stock, valued at approximately $42,044,457.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other FOX news, CFO Steven Tomsic sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the sale, the chief financial officer now owns 110,568 shares of the company's stock, valued at $3,788,059.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares of the company's stock, valued at $42,044,457.42. The disclosure for this purchase can be found here. 21.77% of the stock is owned by corporate insiders.

Institutional Trading of FOX

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in FOX by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company's stock worth $934,354,000 after purchasing an additional 1,653,913 shares in the last quarter. Independent Franchise Partners LLP raised its position in FOX by 3.3% in the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company's stock valued at $635,706,000 after buying an additional 597,450 shares during the last quarter. LSV Asset Management boosted its holdings in FOX by 5.9% during the 2nd quarter. LSV Asset Management now owns 8,577,714 shares of the company's stock worth $294,816,000 after acquiring an additional 481,267 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of FOX by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company's stock worth $129,180,000 after acquiring an additional 268,778 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company's stock worth $83,208,000 after purchasing an additional 492,467 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

About FOX

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.