FOX (NASDAQ:FOXA) Sets New 1-Year High – Still a Buy?

Shares of Fox Co. (NASDAQ:FOXA) hit a new 52-week high on Monday . The stock traded as high as $52.09 and last traded at $51.98, with a volume of 2208579 shares traded. The stock had previously closed at $51.18.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FOXA. TD Cowen increased their target price on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Citigroup increased their target price on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Evercore ISI raised shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, UBS Group increased their price target on shares of FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.25.

FOX Trading Up 1.5 %

The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $48.35 and its two-hundred day simple moving average is $43.72. The company has a market cap of $23.73 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.25 and a beta of 0.76.

FOX (NASDAQ:FOXA) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 13.40% and a return on equity of 16.49%. The company’s revenue for the quarter 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. On average, equities analysts predict that Fox Co. will post 4.12 EPS for the current year.

Insider Transactions at FOX

In related news, COO John Nallen sold 182,481 shares of FOX stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 469,352 shares of company stock worth $20,822,072. Insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of hedge funds and other institutional investors have recently bought and sold shares of FOXA. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of FOX during the 4th quarter worth $28,000. Brooklyn Investment Group raised its stake in FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after purchasing an additional 466 shares during the last quarter. Quest Partners LLC acquired a new position in FOX in the 3rd quarter valued at about $51,000. Quarry LP acquired a new position in FOX in the 3rd quarter valued at about $70,000. Finally, Versant Capital Management Inc raised its stake in FOX by 3,551.1% in the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after purchasing an additional 1,669 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 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.