Fox Co. (NASDAQ:FOXA) COO John Nallen Sells 52,874 Shares

Fox Co. (NASDAQ:FOXA) COO John Nallen sold 52,874 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

FOX Price Performance

FOX stock traded up $0.55 during trading on Friday, reaching $39.54. The company had a trading volume of 3,229,881 shares, compared to its average volume of 3,043,753. The firm’s 50-day simple moving average is $35.99 and its 200 day simple moving average is $32.92. Fox Co. has a 1-year low of $28.28 and a 1-year high of $39.84. The firm has a market capitalization of $18.45 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.94 and a current ratio of 3.24.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. FOX had a net margin of 11.19% and a return on equity of 15.90%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Fox Co. will post 3.33 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, September 4th. This represents a yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio (DPR) is currently 16.93%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Evercore ISI increased their price target on shares of FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a report on Wednesday, August 7th. The Goldman Sachs Group raised their price objective on shares of FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Bank of America raised shares of FOX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $40.00 in a research note on Thursday, May 9th. Macquarie raised their price objective on shares of FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, FOX presently has a consensus rating of “Hold” and a consensus price target of $38.23.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FOXA. Massmutual Trust Co. FSB ADV lifted its holdings in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares in the last quarter. UMB Bank n.a. lifted its holdings in FOX by 254.4% in the 1st quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after purchasing an additional 809 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in FOX by 38.4% in the 1st quarter. Global Retirement Partners LLC now owns 1,305 shares of the company’s stock valued at $41,000 after purchasing an additional 362 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in FOX in the 4th quarter valued at $43,000. Finally, Friedenthal Financial purchased a new position in FOX in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional cable television systems, direct broadcast satellite operators, and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.