FOX (NASDAQ:FOXA) CEO Sells $14,016,211.78 in Stock

Fox Corporation (NASDAQ:FOXA) CEO Lachlan Murdoch sold 242,747 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $57.74, for a total value of $14,016,211.78. Following the completion of the transaction, the chief executive officer owned 175,524 shares in the company, valued at $10,134,755.76. This trade represents a 58.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

FOX Stock Down 0.6%

FOXA opened at $57.39 on Monday. Fox Corporation has a 52 week low of $46.42 and a 52 week high of $76.39. The business has a 50 day moving average price of $64.95 and a two-hundred day moving average price of $64.51. The company has a quick ratio of 2.44, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The company has a market cap of $24.41 billion, a PE ratio of 13.80, a P/E/G ratio of 7.50 and a beta of 0.55.

FOX (NASDAQ:FOXA) last announced its earnings results 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%.The company’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.96 EPS. As a group, research analysts anticipate 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. Investors of record on Wednesday, March 4th will be given a $0.28 dividend. This represents a yield of 83.0%. The ex-dividend date is Wednesday, March 4th. FOX’s dividend payout ratio (DPR) is 13.46%.

Hedge Funds Weigh In On FOX

Institutional investors and hedge funds have recently made changes to their positions in the stock. PFA Pension Forsikringsaktieselskab purchased a new position in shares of FOX in the 4th quarter valued at about $67,467,000. Ameriprise Financial Inc. boosted its holdings 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 in the last quarter. Lazard Asset Management LLC grew its position in FOX by 624.5% during the second quarter. Lazard Asset Management LLC now owns 281,126 shares of the company’s stock worth $15,753,000 after buying an additional 242,321 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in FOX by 150.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 377,731 shares of the company’s stock worth $27,601,000 after buying an additional 227,209 shares during the period. Finally, Marshall Wace LLP increased its holdings in FOX by 415.7% in the second quarter. Marshall Wace LLP now owns 230,570 shares of the company’s stock valued at $12,921,000 after buying an additional 185,859 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

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)

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup upped their price objective on shares of FOX from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Argus upgraded shares of FOX to a “hold” rating in a research note on Thursday, February 19th. The Goldman Sachs Group reissued a “buy” rating and set a $80.00 price target on shares of FOX in a report on Wednesday, February 4th. JPMorgan Chase & Co. raised their price objective on shares of FOX from $65.00 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Finally, Guggenheim lifted their price objective on FOX from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Seven analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $71.80.

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.