FOX (NASDAQ:FOXA) COO John Nallen Sells 242,309 Shares of 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 sale, the chief operating officer directly owned 357,653 shares of the company’s stock, valued at approximately $20,650,884.22. The trade was a 40.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 Trading Down 0.6%

Shares of FOX stock opened at $57.39 on Friday. The company has a market capitalization of $24.41 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 7.54 and a beta of 0.55. The stock has a fifty day simple moving average of $64.95 and a 200 day simple moving average of $64.43. Fox Corporation has a 12-month low of $46.42 and a 12-month high of $76.39. 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 (NASDAQ:FOXA) last released its earnings results 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 return on equity of 18.14% and a net margin of 11.41%.The company had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the previous year, the business posted $0.96 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be given 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 presently 13.46%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company cut FOX from an “overweight” rating to a “hold” rating in a research report on Thursday, February 5th. 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. Weiss Ratings reissued a “buy (b)” rating on shares of FOX in a research report on Monday, December 29th. Zacks Research cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. Finally, Barclays lowered their price objective on FOX from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Seven equities research 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 data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $71.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FOXA. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 29,923 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of FOX by 0.9% in 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 in the last quarter. Ameriprise Financial Inc. increased its holdings 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 buying an additional 762,645 shares during the last quarter. Andra AP fonden raised its position in shares of FOX by 2.6% during the 3rd 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 in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of FOX in the 4th quarter valued at about $67,467,000. 52.52% of the stock is currently owned by institutional investors.

More 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)

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.