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

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

Analysts Set New Price Targets

FOXA has been the topic of several recent research reports. Macquarie reiterated a “neutral” rating and issued a $43.00 price objective on shares of FOX in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Citigroup boosted their target price on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company lifted their target price on shares of FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.00.

FOX Stock Performance

The stock’s 50-day moving average price is $50.43 and its 200-day moving average price is $45.23. The company has a market cap of $26.06 billion, a P/E ratio of 12.31, a PEG ratio of 1.23 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14.

FOX (NASDAQ:FOXA) last issued its 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 firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 19.9% on a year-over-year basis. Equities analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be issued 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 related news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction dated Monday, November 25th. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value 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 represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On FOX

Large investors have recently bought and sold shares of the stock. WealthTrak Capital Management LLC purchased a new position in FOX in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. raised its holdings in FOX by 91.0% in 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of FOX in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp grew its stake in shares of FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after buying an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after buying an additional 368 shares during the last quarter. 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.