Fox Corp (NASDAQ:FOX) Chairman Sells $20,424,000.00 in Stock

Fox Corp (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 600,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $34.04, for a total value of $20,424,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Keith Rupert Murdoch also recently made the following trade(s):

  • On Friday, June 7th, Keith Rupert Murdoch bought 600,000 shares of FOX stock. The shares were acquired at an average cost of $34.27 per share, with a total value of $20,562,000.00.

Shares of FOX stock traded up $0.06 during trading hours on Monday, reaching $33.74. 1,132,005 shares of the company’s stock were exchanged, compared to its average volume of 2,086,636. Fox Corp has a 1 year low of $33.32 and a 1 year high of $41.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.60 and a quick ratio of 3.77.



FOX (NASDAQ:FOX) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.10. The firm had revenue of $2.75 billion during the quarter. Sell-side analysts expect that Fox Corp will post 2.6 earnings per share for the current year.

The company also recently disclosed a Semi-Annual dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a $0.23 dividend. This is an increase from FOX’s previous Semi-Annual dividend of $0.18. The ex-dividend date of this dividend was Friday, May 17th.

A number of equities analysts have recently issued reports on the company. BidaskClub raised FOX from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Royal Bank of Canada reissued a “sell” rating and set a $41.00 target price on shares of FOX in a research note on Monday, March 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised FOX from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, May 28th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FOX. Norges Bank purchased a new position in FOX in the 4th quarter valued at approximately $630,837,000. Oregon Public Employees Retirement Fund increased its stake in FOX by 5,058.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,286,988 shares of the company’s stock valued at $132,000 after purchasing an additional 6,165,104 shares in the last quarter. Samlyn Capital LLC increased its position in FOX by 105.9% during the fourth quarter. Samlyn Capital LLC now owns 5,571,028 shares of the company’s stock worth $266,183,000 after buying an additional 2,865,591 shares in the last quarter. Vanguard Group Inc increased its position in FOX by 6.0% during the third quarter. Vanguard Group Inc now owns 33,306,934 shares of the company’s stock worth $1,526,124,000 after buying an additional 1,872,422 shares in the last quarter. Finally, BlackRock Inc. increased its position in FOX by 5.7% during the fourth quarter. BlackRock Inc. now owns 30,151,923 shares of the company’s stock worth $1,440,659,000 after buying an additional 1,639,201 shares in the last quarter. 22.14% of the stock is owned by hedge funds and other institutional investors.

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About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.

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