FOX (NASDAQ:FOXA) Hits New 12-Month High – What’s Next?

Shares of Fox Co. (NASDAQ:FOXA) reached a new 52-week high on Thursday . The company traded as high as $57.72 and last traded at $57.48, with a volume of 8093392 shares trading hands. The stock had previously closed at $56.29.

Analysts Set New Price Targets

Several analysts recently issued reports on FOXA shares. TD Cowen lifted their target price on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Morgan Stanley lifted their price objective on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Macquarie reaffirmed a “neutral” rating and issued a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Finally, Loop Capital lifted their price objective on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, FOX presently has an average rating of “Hold” and an average price target of $51.00.

FOX Stock Up 2.1 %

The business has a fifty day simple moving average of $50.43 and a two-hundred day simple moving average of $45.23. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The company has a market cap of $26.06 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.23 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. As a group, equities research analysts predict that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given a dividend of $0.27 per share. This represents a dividend yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s payout ratio is 11.56%.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FOXA. DnB Asset Management AS grew its position in FOX by 0.6% during the fourth quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock worth $2,141,000 after buying an additional 245 shares during the period. Jones Financial Companies Lllp boosted its position in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after acquiring an additional 249 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after purchasing an additional 262 shares during the period. US Bancorp DE raised its stake in FOX by 2.0% during the fourth quarter. US Bancorp DE now owns 14,520 shares of the company’s stock worth $705,000 after purchasing an additional 281 shares during the period. Finally, Metis Global Partners LLC raised its stake in shares of FOX by 2.8% in the 4th quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock valued at $524,000 after acquiring an additional 292 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.