Fox Co. (NASDAQ:FOX) is Yacktman Asset Management LP’s 10th Largest Position

Yacktman Asset Management LP lessened its holdings in Fox Co. (NASDAQ:FOX) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,998,680 shares of the company’s stock after selling 735,540 shares during the quarter. FOX accounts for about 3.2% of Yacktman Asset Management LP’s holdings, making the stock its 10th biggest position. Yacktman Asset Management LP owned approximately 1.71% of FOX worth $310,349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new stake in shares of FOX during the 2nd quarter worth $65,709,000. Independent Franchise Partners LLP lifted its stake in shares of FOX by 14.5% in the second quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock valued at $160,863,000 after purchasing an additional 636,247 shares during the period. Regal Partners Ltd acquired a new stake in shares of FOX in the second quarter valued at about $16,398,000. Dimensional Fund Advisors LP boosted its holdings in FOX by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock worth $74,483,000 after buying an additional 272,743 shares in the last quarter. Finally, Edgestream Partners L.P. grew its position in FOX by 867.4% during the second quarter. Edgestream Partners L.P. now owns 304,088 shares of the company’s stock worth $9,737,000 after buying an additional 272,656 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FOX shares. Barclays raised FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th.

Insider Activity

In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated 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 sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other FOX news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 23.06% of the company’s stock.

FOX Stock Performance

Shares of FOX opened at $39.96 on Tuesday. The company has a 50-day moving average of $38.19 and a two-hundred day moving average of $34.60. The stock has a market cap of $18.39 billion, a P/E ratio of 12.77, a PEG ratio of 2.03 and a beta of 0.81. Fox Co. has a 12-month low of $25.82 and a 12-month high of $42.13. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOX) last posted its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, research analysts predict that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.