FOX (NASDAQ:FOXA) Hits New 52-Week High at $41.43

Fox Co. (NASDAQ:FOXA - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.43 and last traded at $41.35, with a volume of 93400 shares. The stock had previously closed at $41.37.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of FOX from $33.00 to $38.00 and gave the company an "in-line" rating in a research report on Wednesday, August 7th. Bank of America raised shares of FOX from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $34.00 to $40.00 in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of FOX from $39.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, August 7th. Wells Fargo & Company upgraded shares of FOX from an "underweight" rating to an "overweight" rating and increased their price objective for the company from $29.00 to $46.00 in a research note on Friday, August 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of FOX from $42.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, FOX presently has an average rating of "Hold" and an average target price of $38.23.

FOX Stock Performance

The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average of $37.67 and a 200-day moving average of $33.77. The stock has a market capitalization of $19.15 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 1.86 and a beta of 0.77.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.07. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. FOX's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, sell-side analysts predict that Fox Co. will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a $0.27 dividend. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 4th. This is a boost from FOX's previous Semi-Annual dividend of $0.26. FOX's payout ratio is 16.93%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp grew its position in FOX by 31.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company's stock worth $15,523,000 after acquiring an additional 117,458 shares during the period. Quest Partners LLC purchased a new stake in FOX in the 4th quarter valued at about $1,796,000. Jane Street Group LLC lifted its position in FOX by 25.2% in the first quarter. Jane Street Group LLC now owns 139,502 shares of the company's stock valued at $4,362,000 after buying an additional 28,072 shares during the last quarter. Scout Investments Inc. boosted its stake in FOX by 102.0% during the fourth quarter. Scout Investments Inc. now owns 209,871 shares of the company's stock worth $6,227,000 after buying an additional 105,960 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of FOX by 99.9% during the fourth quarter. Hsbc Holdings PLC now owns 652,921 shares of the company's stock valued at $19,339,000 after acquiring an additional 326,254 shares during the last quarter. Hedge funds and other institutional investors 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.