FOX (NASDAQ:FOX) Sets New 52-Week High - Here's Why

Key Points

• Fox Corporation's shares hit a new 52-week high at $56.02 and last traded at $56.00, indicating strong investor interest.
• The company reported earnings of $1.27 per share, exceeding expectations and generating a net margin of 13.88% for the quarter.
• FOX declared a dividend of $0.28 per share, with a payout ratio of 11.41%, demonstrating its commitment to returning value to shareholders.

Fox Corporation (NASDAQ:FOX - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $56.02 and last traded at $56.00, with a volume of 97679 shares traded. The stock had previously closed at $55.97.

FOX Trading Up 0.6%

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 stock has a market cap of $25.09 billion, a P/E ratio of 11.47, a PEG ratio of 1.38 and a beta of 0.57. The firm's 50-day simple moving average is $52.23 and its 200 day simple moving average is $50.29.

FOX (NASDAQ:FOX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.03 by $0.24. The firm had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. As a group, equities research analysts anticipate that Fox Corporation will post 4.25 earnings per share for the current year.

FOX Announces Dividend

The firm also recently declared 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 (DPR) is currently 11.41%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. grew its position in FOX by 66.2% in the 1st quarter. Federated Hermes Inc. now owns 580 shares of the company's stock worth $31,000 after purchasing an additional 231 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in FOX by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 34,898 shares of the company's stock valued at $1,839,000 after acquiring an additional 266 shares during the period. CWM LLC increased its stake in FOX by 16.6% in the first quarter. CWM LLC now owns 1,892 shares of the company's stock valued at $100,000 after acquiring an additional 270 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in FOX by 2.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,040 shares of the company's stock valued at $529,000 after acquiring an additional 270 shares during the period. Finally, Fifth Third Bancorp increased its stake in FOX by 7.5% in the first quarter. Fifth Third Bancorp now owns 4,398 shares of the company's stock valued at $232,000 after acquiring an additional 307 shares during the period. Institutional investors 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.

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