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

Fox Corporation (NASDAQ:FOXA) COO John Nallen sold 216,806 shares of the firm’s stock in a transaction that occurred on 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 owned 362,206 shares in the company, valued at $20,892,042.08. This represents a 37.44% decrease in their position. The sale was disclosed in a filing 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 stock was sold at an average price of $57.74, for a total transaction of $13,990,921.66.

FOX Stock Down 0.6%

Shares of NASDAQ:FOXA opened at $57.39 on Friday. Fox Corporation has a 52-week low of $46.42 and a 52-week high of $76.39. The company has a market capitalization of $24.41 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 7.50 and a beta of 0.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.44 and a current ratio of 2.78. The company has a fifty day moving average of $64.95 and a 200-day moving average of $64.47.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.35. The company had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.02 billion. FOX had a return on equity of 18.14% and a net margin of 11.41%.FOX’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. On average, equities analysts predict that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be paid a dividend of $0.28 per share. This represents a dividend 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%.

Institutional Trading of FOX

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in FOX by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock valued at $476,248,000 after acquiring an additional 29,923 shares during the last quarter. Bank of New York Mellon Corp raised its holdings 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 purchasing an additional 16,757 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of FOX by 72.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after purchasing an additional 762,645 shares during the period. Andra AP fonden lifted its position in shares of FOX by 2.6% in the 3rd quarter. Andra AP fonden now owns 944,500 shares of the company’s stock worth $59,560,000 after purchasing an additional 23,700 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of FOX in the 4th quarter valued at $67,467,000. 52.52% of the stock is currently owned by institutional investors.

Key FOX News

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)

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FOXA. JPMorgan Chase & Co. upped their price objective on FOX from $65.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Barclays reduced their target price on shares of FOX from $64.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. The Goldman Sachs Group restated a “buy” rating and issued a $80.00 price target on shares of FOX in a research report on Wednesday, February 4th. Argus raised shares of FOX to a “hold” rating in a research note on Thursday, February 19th. Finally, UBS Group set a $64.00 price target on shares of FOX in a report on Tuesday, February 24th. 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’s stock. According to MarketBeat, FOX presently has an average rating of “Hold” and a consensus target price of $71.80.

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.