Asahi shares mark weekly slide after cyberattack halts production
Fox Corp’s Class B stock has reached an all-time high of $57.02, with InvestingPro analysis showing the company maintains a "GREAT" financial health score and boasts a perfect Piotroski Score of 9, indicating exceptional operational efficiency. This milestone marks a significant achievement for the company, reflecting strong investor confidence and robust market performance. Over the past year, Fox’s stock has surged 43.81%, with analysts setting price targets up to $65. The company’s P/E ratio of 12.7 suggests attractive valuation metrics relative to its growth potential. This impressive growth can be attributed to various strategic initiatives and strong financial results, positioning Fox as a formidable player in its sector. With a market capitalization of $28 billion and consistent dividend growth over the past five years, Fox demonstrates solid fundamentals. For deeper insights and additional ProTips about Fox’s valuation and growth prospects, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Fox Corporation announced that trusts established for the benefit of Prudence MacLeod, Elisabeth Murdoch, and James Murdoch will sell approximately 16.9 million shares of its Class B common stock. The selling stockholders, including charitable organizations, will receive all proceeds from the offering, while Fox Corporation will not sell any shares or gain any proceeds. This decision follows the resolution of legal proceedings related to the Murdoch Family Trust, resulting in Prudence, Elisabeth, and James Murdoch exiting as beneficiaries in any trust holding shares in Fox or News Corporation. New trusts will now be established for Lachlan, Grace, and Chloe Murdoch. Additionally, Fox Corporation’s CEO, Lachlan Murdoch, is scheduled to speak at the Goldman Sachs Communacopia & Technology Conference. This comes amid a secondary offering of Class B common stock following the termination of litigation in Nevada. These developments reflect significant changes within the Murdoch family’s involvement in Fox Corporation.
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