John Nallen Sells 242,309 Shares of FOX (NASDAQ:FOXA) Stock

Fox Corporation (NASDAQ:FOXA) COO John Nallen sold 242,309 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $57.74, for a total transaction of $13,990,921.66. Following the transaction, the chief operating officer owned 357,653 shares in the company, valued at approximately $20,650,884.22. The trade was a 40.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Thursday, March 12th, John Nallen sold 216,806 shares of FOX stock. The shares were sold at an average price of $57.68, for a total transaction of $12,505,370.08.

FOX Stock Down 0.6%

NASDAQ FOXA opened at $57.39 on Friday. Fox Corporation has a twelve month low of $46.42 and a twelve month high of $76.39. The stock has a market cap of $24.41 billion, a PE ratio of 13.80, a PEG ratio of 7.50 and a beta of 0.55. The firm has a 50-day simple moving average of $64.95 and a 200 day simple moving average of $64.47. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.44 and a current ratio of 2.78.

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, beating the consensus estimate of $0.47 by $0.35. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.02 billion. FOX had a return on equity of 18.14% and a net margin of 11.41%.The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 earnings per share. On average, research analysts forecast that Fox Corporation will post 4.38 EPS for the current year.

FOX Dividend Announcement

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

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)

Institutional Trading of FOX

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in 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 acquiring an additional 29,923 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of FOX by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 1,924,975 shares of the company’s stock valued at $121,389,000 after acquiring an additional 16,757 shares during the period. Ameriprise Financial Inc. boosted its stake 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 valued at $101,948,000 after purchasing an additional 762,645 shares in the last quarter. Andra AP fonden boosted its stake in shares of FOX by 2.6% in the 3rd quarter. Andra AP fonden now owns 944,500 shares of the company’s stock valued at $59,560,000 after purchasing an additional 23,700 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of FOX in the 4th quarter worth about $67,467,000. 52.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Argus raised FOX to a “hold” rating in a research report on Thursday, February 19th. TD Cowen boosted their price target on shares of FOX from $55.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, February 5th. The Goldman Sachs Group restated a “buy” rating and issued a $80.00 price objective on shares of FOX in a research note on Wednesday, February 4th. Wells Fargo & Company lowered shares of FOX from an “overweight” rating to a “hold” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of FOX in a research note on Monday, December 29th. Seven equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.