FOX (NASDAQ:FOX) Sets New 52-Week High – Still a Buy?

Fox Co. (NASDAQ:FOX) reached a new 52-week high on Monday . The stock traded as high as $54.90 and last traded at $54.65, with a volume of 218488 shares traded. The stock had previously closed at $54.07.

Analyst Ratings Changes

Separately, Moffett Nathanson cut FOX from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st.

FOX Price Performance

The company has a 50 day simple moving average of $48.81 and a 200 day simple moving average of $43.26. The company has a market capitalization of $24.72 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOX) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.35. FOX had a net margin of 14.39% and a return on equity of 18.50%. During the same quarter in the prior year, the firm posted $0.34 earnings per share. As a group, research analysts predict that Fox Co. will post 4.25 EPS for the current year.

FOX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is 11.56%.

Insider Buying and Selling at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the business’s 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 sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. 23.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FOX

A number of institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of FOX by 28.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,010 shares of the company’s stock valued at $505,000 after buying an additional 2,892 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of FOX by 3.1% during the third quarter. State of Alaska Department of Revenue now owns 34,314 shares of the company’s stock worth $1,331,000 after purchasing an additional 1,040 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of FOX by 7.8% during the third quarter. New York State Teachers Retirement System now owns 174,824 shares of the company’s stock valued at $6,783,000 after purchasing an additional 12,656 shares during the last quarter. Intact Investment Management Inc. acquired a new position in shares of FOX in the 3rd quarter valued at $74,000. Finally, Summit Global Investments purchased a new position in FOX in the 3rd quarter worth about $768,000. 26.41% of the stock is currently owned by institutional investors and hedge funds.

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.