FOX (NASDAQ:FOX) Hits New 12-Month High - Still a Buy?

Key Points

• Fox Corporation shares reached a new 52-week high at $55.27, marking a significant milestone in its trading performance.
• The company reported an earnings per share (EPS) of $1.27 for the recent quarter, surpassing analysts' expectations of $1.03, alongside revenue of $3.29 billion.
• FOX announced a dividend payout of $0.28 per share, set to be distributed to stockholders on September 24th, indicating a stable return to investors.

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

FOX Price Performance

The firm has a market cap of $24.94 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.36 and a beta of 0.57. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $52.23 and a two-hundred day moving average of $50.34.

FOX (NASDAQ:FOX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.24. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%. On average, sell-side analysts anticipate that Fox Corporation will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently disclosed a half year 25 dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. FOX's payout ratio is currently 11.41%.

Institutional Investors Weigh In On FOX

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. grew its position in shares of FOX by 66.2% in the 1st quarter. Federated Hermes Inc. now owns 580 shares of the company's stock valued at $31,000 after buying an additional 231 shares during the last quarter. IFP Advisors Inc grew its position in shares of FOX by 457.6% in the 1st quarter. IFP Advisors Inc now owns 697 shares of the company's stock valued at $37,000 after buying an additional 572 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of FOX by 183.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 801 shares of the company's stock valued at $42,000 after buying an additional 518 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of FOX in the 1st quarter valued at about $69,000. Finally, Versant Capital Management Inc grew its position in shares of FOX by 327.3% in the 1st quarter. Versant Capital Management Inc now owns 1,346 shares of the company's stock valued at $71,000 after buying an additional 1,031 shares during the last quarter. 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.