FOX (NASDAQ:FOXA) COO Sells $13,990,921.66 in Stock

Fox Corporation (NASDAQ:FOXA) COO John Nallen sold 242,309 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $57.74, for a total value of $13,990,921.66. Following the completion of the sale, the chief operating officer directly owned 357,653 shares of the company’s stock, valued at approximately $20,650,884.22. This trade represents a 40.39% decrease in their position. The transaction 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 Thursday, March 12th, John Nallen sold 216,806 shares of FOX stock. The stock was sold at an average price of $57.68, for a total transaction of $12,505,370.08.

FOX Price Performance

Shares of FOXA traded down $0.35 during trading hours on Friday, reaching $57.39. The company had a trading volume of 9,569,095 shares, compared to its average volume of 3,978,365. The company has a current ratio of 2.78, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60. Fox Corporation has a 12-month low of $46.42 and a 12-month high of $76.39. The firm has a 50 day simple moving average of $65.28 and a 200-day simple moving average of $64.45. The company has a market capitalization 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 (NASDAQ:FOXA) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.82 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 the consensus estimate of $5.02 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. Research analysts expect that Fox Corporation will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley upped their target price on FOX from $74.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. UBS Group set a $64.00 price objective on shares of FOX in a research report on Tuesday, February 24th. Guggenheim increased their price objective on shares of FOX from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Wells Fargo & Company downgraded shares of FOX from an “overweight” rating to a “hold” rating in a report on Thursday, February 5th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $80.00 target price on shares of FOX in a research report on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, FOX presently has a consensus rating of “Hold” and an average price target of $71.80.

Institutional Trading of FOX

A number of large investors have recently made changes to their positions in FOXA. Elyxium Wealth LLC purchased a new stake in FOX during the 4th quarter worth about $27,000. FWL Investment Management LLC acquired a new stake in shares of FOX during the 3rd quarter worth about $26,000. CYBER HORNET ETFs LLC acquired a new stake in shares of FOX during the 2nd quarter worth about $35,000. Rosenberg Matthew Hamilton grew its holdings in shares of FOX by 58.5% during the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after buying an additional 257 shares in the last quarter. Finally, Private Trust Co. NA raised its position in shares of FOX by 35.6% in the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock valued at $52,000 after buying an additional 187 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

About FOX

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.