Fox Co. (NASDAQ:FOXA) COO John Nallen Sells 52,874 Shares

Fox Co. (NASDAQ:FOXA) COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

FOX Stock Up 1.4 %

Shares of FOXA opened at $39.54 on Monday. Fox Co. has a 1 year low of $28.28 and a 1 year high of $39.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. The stock has a 50 day simple moving average of $36.10 and a two-hundred day simple moving average of $32.98. The firm has a market cap of $18.45 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.51 and a beta of 0.77.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. FOX had a return on equity of 15.90% and a net margin of 11.19%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the business earned $0.88 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts forecast that Fox Co. will post 3.33 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.27 per share. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date is Wednesday, September 4th. This represents a dividend yield of 1.4%. FOX’s payout ratio is presently 16.93%.

Analyst Ratings Changes

FOXA has been the subject of several recent analyst reports. Macquarie boosted their price objective on shares of FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Wells Fargo & Company raised shares of FOX from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $29.00 to $46.00 in a report on Friday. Evercore ISI lifted their price objective on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their target price on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on FOX from $39.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.23.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently bought and sold shares of FOXA. Massmutual Trust Co. FSB ADV lifted its stake in shares of FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares during the period. UMB Bank n.a. lifted its position in FOX by 254.4% during the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after buying an additional 809 shares during the period. Global Retirement Partners LLC grew its position in shares of FOX by 38.4% in the 1st quarter. Global Retirement Partners LLC now owns 1,305 shares of the company’s stock worth $41,000 after buying an additional 362 shares during the period. Altshuler Shaham Ltd bought a new position in shares of FOX in the 4th quarter worth about $43,000. Finally, Friedenthal Financial bought a new stake in FOX during the second quarter worth about $51,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.