FOX (NASDAQ:FOX) Sets New 1-Year High – Time to Buy?

Fox Co. (NASDAQ:FOX) shares hit a new 52-week high during trading on Monday . The stock traded as high as $54.29 and last traded at $54.27, with a volume of 293930 shares traded. The stock had previously closed at $53.01.

Wall Street Analysts Forecast Growth

Separately, Moffett Nathanson downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st.

FOX Stock Up 2.6 %

The company has a market capitalization of $24.67 billion, a PE ratio of 11.65, 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. The firm has a 50-day moving average of $48.06 and a two-hundred day moving average of $42.66.

FOX (NASDAQ:FOX) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm earned $0.34 earnings per share. Equities research analysts predict that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Wednesday, March 5th. FOX’s payout ratio is 11.56%.

Insider Transactions at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 771,024 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total value of $35,521,075.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was 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 owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.06% of the company’s stock.

Institutional Investors Weigh In On FOX

Large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp purchased a new position in FOX in the fourth quarter worth approximately $206,000. Forum Financial Management LP purchased a new stake in shares of FOX during the 4th quarter worth $318,000. Toronto Dominion Bank grew its stake in shares of FOX by 8.3% during the fourth quarter. Toronto Dominion Bank now owns 71,886 shares of the company’s stock worth $3,288,000 after purchasing an additional 5,488 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in FOX by 19.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,417,953 shares of the company’s stock valued at $64,857,000 after buying an additional 227,589 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in FOX in the fourth quarter valued at $362,000. Hedge funds and other institutional investors own 26.41% 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.