Yacktman Asset Management LP Trims Stake in Fox Co. (NASDAQ:FOXA)

Yacktman Asset Management LP trimmed its holdings in shares of Fox Co. (NASDAQ:FOXA) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,575,841 shares of the company’s stock after selling 14,756 shares during the quarter. Yacktman Asset Management LP owned 0.55% of FOX worth $109,035,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV boosted its position in shares of FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the period. Friedenthal Financial acquired a new stake in FOX in the second quarter valued at $51,000. Duncker Streett & Co. Inc. purchased a new stake in FOX during the second quarter worth approximately $52,000. Meeder Asset Management Inc. purchased a new stake in shares of FOX during the 1st quarter worth approximately $66,000. Finally, Covestor Ltd boosted its stake in FOX by 283.0% in the first quarter. Covestor Ltd now owns 2,880 shares of the company’s stock valued at $90,000 after acquiring an additional 2,128 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FOXA has been the subject of several research analyst reports. Barclays increased their price objective on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. JPMorgan Chase & Co. upped their target price on FOX from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Bank of America increased their price target on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Guggenheim boosted their target price on shares of FOX from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.46.

Insider Activity

In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FOX news, COO John Nallen sold 52,874 shares of the stock in a transaction 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 directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

FOX Price Performance

FOXA stock opened at $43.00 on Tuesday. The company has a market capitalization of $19.79 billion, a PE ratio of 13.74, a P/E/G ratio of 1.90 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. Fox Co. has a 52-week low of $28.28 and a 52-week high of $45.82. The stock’s 50 day moving average is $41.39 and its two-hundred day moving average is $37.34.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. Analysts predict that Fox Co. will post 3.69 earnings per share for the current fiscal year.

FOX 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.