FOX (NASDAQ:FOX) Sets New 12-Month High – Time to Buy?

Fox Corporation (NASDAQ:FOX) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $55.27 and last traded at $55.22, with a volume of 243206 shares trading hands. The stock had previously closed at $54.55.

FOX Price Performance

The stock’s 50 day moving average price is $51.94 and its 200-day moving average price is $50.22. The stock has a market capitalization of $24.58 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.34 and a beta of 0.57. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

FOX (NASDAQ:FOX) last announced its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.24. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. As a group, equities analysts forecast that Fox Corporation will post 4.25 EPS for the current year.

FOX Dividend Announcement

The business also recently disclosed a half year 25 dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. FOX’s dividend payout ratio is 11.00%.

Insider Activity

In other news, CFO Steven Tomsic sold 5,607 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the transaction, the chief financial officer owned 133,923 shares in the company, valued at $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FOX

Several hedge funds and other institutional investors have recently bought and sold shares of FOX. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in FOX by 82.7% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,355 shares of the company’s stock worth $1,126,000 after purchasing an additional 9,669 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in FOX by 24.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,449 shares of the company’s stock worth $287,000 after purchasing an additional 1,060 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of FOX during the 1st quarter valued at approximately $360,000. KBC Group NV lifted its position in shares of FOX by 35.8% during the 1st quarter. KBC Group NV now owns 34,095 shares of the company’s stock valued at $1,797,000 after buying an additional 8,987 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of FOX by 13.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 43,126 shares of the company’s stock valued at $2,273,000 after buying an additional 5,089 shares in the last quarter. Institutional investors and hedge funds own 26.41% 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.