FOX (NASDAQ:FOXA) COO John Nallen Sells 216,806 Shares of Stock

Fox Corporation (NASDAQ:FOXA) COO John Nallen sold 216,806 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $57.68, for a total value of $12,505,370.08. Following the transaction, the chief operating officer owned 362,206 shares of the company’s stock, valued at approximately $20,892,042.08. This represents a 37.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $57.74, for a total value of $13,990,921.66.

FOX Stock Performance

Shares of FOX stock opened at $57.39 on Friday. The business has a 50-day moving average of $64.95 and a 200 day moving average of $64.43. Fox Corporation has a 12 month low of $46.42 and a 12 month high of $76.39. The stock has a market capitalization of $24.41 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 7.54 and a beta of 0.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44.

FOX (NASDAQ:FOXA) last issued its quarterly 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. The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.02 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. As a group, sell-side analysts forecast that Fox Corporation will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FOXA. Guggenheim boosted their price objective on FOX from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. TD Cowen lifted their price target on shares of FOX from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. The Goldman Sachs Group reissued a “buy” rating and issued a $80.00 price objective on shares of FOX in a research report on Wednesday, February 4th. Wells Fargo & Company cut shares of FOX from an “overweight” rating to a “hold” rating in a research report on Thursday, February 5th. Finally, Evercore increased their target price on FOX from $66.00 to $70.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, FOX presently has an average rating of “Hold” and a consensus price target of $71.80.

Hedge Funds Weigh In On FOX

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of FOX by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock worth $476,248,000 after purchasing an additional 29,923 shares during the last quarter. Bank of New York Mellon Corp grew its stake in FOX by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,924,975 shares of the company’s stock worth $121,389,000 after buying an additional 16,757 shares during the last quarter. Ameriprise Financial Inc. increased its position in FOX by 72.0% during the second quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after buying an additional 762,645 shares during the period. Andra AP fonden lifted its stake in FOX by 2.6% in the third quarter. Andra AP fonden now owns 944,500 shares of the company’s stock valued at $59,560,000 after buying an additional 23,700 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in FOX in the fourth quarter valued at approximately $67,467,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX News Summary

Here are the key news stories impacting FOX this week:

• Positive Sentiment: CEO Lachlan K. Murdoch purchased 175,372 shares on March 13 at an average $60.63, raising his stake to ~1.25M shares — a visible insider buy that can be read as a vote of confidence in the company. Murdoch Form 4 (purchase)
• Positive Sentiment: Recent coverage highlights a shifting investment story around sports rights and advertising potential — this frames a possible medium-term revenue/upside catalyst for FOX’s broadcast and sports assets. How The Fox (FOXA) Investment Story Is Shifting Around Sports Rights And Advertising Potential
• Neutral Sentiment: Brokerage consensus remains a “Hold” on FOX, indicating analysts see limited near-term upgrade pressure despite the company’s recent fundamentals and messaging. Fox Corporation (NASDAQ:FOXA) Given Consensus Rating of “Hold” by Brokerages
• Negative Sentiment: Significant insider selling by leadership: CEO Lachlan Murdoch sold multiple tranches (totaling ~1.13M shares across Mar 11–13 for roughly $65M) and COO John Nallen sold ~459k shares (~$26.5M) across Mar 11–12. Those large disposals — even though partially offset by Murdoch’s purchase — are likely weighing on sentiment and helped drive elevated trading volume. Murdoch Form 4 (sales & purchase) Nallen Form 4 (sales)

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.