FOX (NASDAQ:FOXA) Reaches New 1-Year High at $41.62

Shares of Fox Co. (NASDAQ:FOXA - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.62 and last traded at $41.48, with a volume of 147378 shares trading hands. The stock had previously closed at $41.11.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FOXA shares. JPMorgan Chase & Co. raised their price target on shares of FOX from $36.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Wells Fargo & Company upgraded shares of FOX from an "underweight" rating to an "overweight" rating and lifted their price objective for the company from $29.00 to $46.00 in a report on Friday, August 16th. Macquarie boosted their target price on shares of FOX from $32.00 to $35.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. Guggenheim upped their price objective on shares of FOX from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Seaport Res Ptn downgraded shares of FOX from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 9th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $38.71.

FOX Stock Up 2.9 %

The company has a market capitalization of $19.75 billion, a PE ratio of 13.23, a PEG ratio of 1.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. The stock's 50 day moving average is $39.29 and its 200 day moving average is $34.90.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.07. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the prior year, the company posted $0.88 EPS. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Fox Co. will post 3.72 EPS for the current fiscal year.

FOX Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Lachlan K. Murdoch purchased 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 directly owns 1,076,407 shares of the company's stock, valued at $42,044,457.42. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John Nallen sold 52,874 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company's stock.

Hedge Funds Weigh In On FOX

Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of FOX during the 4th quarter valued at $68,391,000. KBC Group NV grew its holdings in shares of FOX by 453.0% during the 4th quarter. KBC Group NV now owns 2,029,839 shares of the company's stock valued at $60,225,000 after purchasing an additional 1,662,748 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of FOX by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company's stock valued at $934,354,000 after purchasing an additional 1,653,913 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of FOX by 128.0% during the 4th quarter. TD Asset Management Inc now owns 2,294,159 shares of the company's stock valued at $68,068,000 after purchasing an additional 1,287,911 shares during the last quarter. Finally, Retirement Systems of Alabama grew its holdings in shares of FOX by 1,727.2% during the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company's stock valued at $33,169,000 after purchasing an additional 912,250 shares during the last quarter. 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.