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

Fox Co. (NASDAQ:FOX) reached a new 52-week high during trading on Friday, hitting $44.79 before settling at $44.76, with a trading volume of 168,714 shares. The stock closed the previous day at $44.36.

Analysts Set New Price Targets

Several brokerage firms have recently updated their ratings and price targets for FOX. For instance, Seaport Res Ptn lowered its recommendation for FOX from "strong-buy" to "hold" as of September 9, while Barclays raised its rating to "hold" on October 9.

Performance of FOX Stock

As of now, FOX has a 50-day moving average of $40.24 and a 200-day moving average of $36.24. The market capitalization stands at $20.43 billion, with a price-to-earnings (P/E) ratio of 10.85 and a price-to-earnings growth (PEG) ratio of 1.70. The stock's beta is 0.81, indicating it is less volatile than the market. Additionally, FOX has strong financial ratios like a quick ratio of 2.33 and a current ratio of 2.59, with a debt-to-equity ratio of 0.58.

Insider Trading Activity

Recent insider transactions include a significant sale by Chairman Keith Rupert Murdoch, who sold 100,000 shares on November 6 for an average price of $42.05, totaling $4,205,000. After this sale, he still owns 1,258,862 shares, valued at around $52,935,147.10, which represents a 7.36% decrease in his ownership. Additionally, COO John Nallen sold 182,481 shares on November 5 at an average price of $43.73 for a total of $7,979,894.13, which is a 42.25% reduction in his holdings. In total, insiders have sold 1,053,505 shares worth approximately $47,705,970 in the past ninety days, and company insiders own about 23.06% of the company's stock.

Institutional Trading of FOX

Many institutional investors have been active in trading FOX shares. For example, Assenagon Asset Management S.A. bought a new position in FOX during the second quarter, valued at about $65,709,000. The National Bank of Canada increased its stake by 212.7% in the third quarter and now holds 1,437,637 shares valued at $55,780,000. State Street Corp also increased its holdings by 7.5%, now owning 9,639,382 shares valued at $374,008,000. Independent Franchise Partners LLP and Healthcare of Ontario Pension Plan Trust Fund also boosted their stakes significantly. Overall, institutional investors own about 26.41% of FOX's shares.

About FOX

Fox Corporation operates as a major news, sports, and entertainment company in the United States. The company has four primary segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment is responsible for producing and licensing news and sports content for delivery through various platforms, including traditional cable, satellite, and digital services across the U.S.

Should You Invest in FOX?

Before making any investment decisions regarding FOX, it's important to consider the opinions of analysts. Currently, FOX holds a "Hold" rating according to analysts, who suggest that other stocks may be better investment opportunities at this time.

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