FOX (NASDAQ:FOXA) COO Sells $12,505,370.08 in Stock

Fox Corporation (NASDAQ:FOXA) COO John Nallen sold 216,806 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $57.68, for a total transaction of $12,505,370.08. Following the completion of the sale, the chief operating officer directly owned 362,206 shares of the company’s stock, valued at approximately $20,892,042.08. The trade was a 37.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

John Nallen also recently made the following trade(s):

• On Wednesday, March 11th, John Nallen sold 242,309 shares of FOX stock. The stock was sold at an average price of $57.74, for a total transaction of $13,990,921.66.

FOX Stock Performance

FOX stock traded down $0.35 during midday trading on Friday, hitting $57.39. The company’s stock had a trading volume of 9,569,095 shares, compared to its average volume of 3,978,365. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44. The company has a market cap of $24.41 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 7.54 and a beta of 0.55. Fox Corporation has a 1-year low of $46.42 and a 1-year high of $76.39. The company has a 50-day moving average price of $65.28 and a two-hundred day moving average price of $64.45.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.35. FOX had a net margin of 11.41% and a return on equity of 18.14%. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the business posted $0.96 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Fox Corporation will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.28 per share. This represents a yield of 83.0%. The ex-dividend date is Wednesday, March 4th. FOX’s dividend payout ratio (DPR) is 13.46%.

Analyst Upgrades and Downgrades

FOXA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on FOX from $65.00 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Citigroup raised their price target on FOX from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $80.00 price target on shares of FOX in a research note on Wednesday, February 4th. Guggenheim upped their price objective on shares of FOX from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, Argus raised shares of FOX to a “hold” rating in a report on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $71.80.

Hedge Funds Weigh In On FOX

Several hedge funds and other institutional investors have recently modified their holdings of the business. DGS Capital Management LLC acquired a new position in shares of FOX during the 4th quarter worth $266,000. State of Tennessee Department of Treasury boosted its stake in FOX by 46.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 107,661 shares of the company’s stock valued at $7,836,000 after buying an additional 33,997 shares in the last quarter. Auxier Asset Management LLC acquired a new stake in FOX in the fourth quarter valued at about $222,000. California State Teachers Retirement System grew its position in FOX by 11.5% in the fourth quarter. California State Teachers Retirement System now owns 417,901 shares of the company’s stock valued at $30,536,000 after acquiring an additional 43,232 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in FOX by 6.6% during the fourth quarter. Captrust Financial Advisors now owns 7,063 shares of the company’s stock worth $516,000 after acquiring an additional 435 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.