FOX (NASDAQ:FOXA) Reaches New 52-Week High – Should You Buy?

Shares of Fox Co. (NASDAQ:FOXA) reached a new 52-week high on Wednesday . The stock traded as high as $42.90 and last traded at $42.90, with a volume of 103 shares. The stock had previously closed at $42.00.

Analyst Ratings Changes

FOXA has been the subject of a number of research reports. Guggenheim increased their target price on shares of FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Barclays raised their price objective on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price target on FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Macquarie raised their price target on FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, FOX currently has a consensus rating of “Hold” and an average target price of $41.08.

FOX Price Performance

The business has a 50 day simple moving average of $41.28 and a two-hundred day simple moving average of $37.00. The firm has a market capitalization of $19.66 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 1.92 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.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. FOX’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. On average, sell-side analysts expect that Fox Co. will post 3.69 EPS for the current fiscal year.

FOX Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.27 per share. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a yield of 1.4%. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Insider Buying and Selling at FOX

In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other FOX news, CEO Lachlan K. Murdoch purchased 119,705 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO John Nallen sold 52,874 shares of FOX 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 owns 249,424 shares in the company, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FOXA. Massmutual Trust Co. FSB ADV increased its stake in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the period. Friedenthal Financial purchased a new position in shares of FOX in the second quarter worth $51,000. Duncker Streett & Co. Inc. purchased a new position in shares of FOX in the second quarter worth $52,000. Meeder Asset Management Inc. purchased a new position in shares of FOX in the first quarter worth $66,000. Finally, Covestor Ltd increased its position in shares of FOX by 283.0% in the first quarter. Covestor Ltd now owns 2,880 shares of the company’s stock valued at $90,000 after acquiring an additional 2,128 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

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.