Fox Co. (NASDAQ:FOX) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP cut its stake in Fox Co. (NASDAQ:FOX) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,998,680 shares of the company’s stock after selling 735,540 shares during the period. FOX makes up 3.2% of Yacktman Asset Management LP’s investment portfolio, making the stock its 10th largest position. Yacktman Asset Management LP’s holdings in FOX were worth $310,349,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FOX. Blue Trust Inc. grew its stake in shares of FOX by 692.1% during the 2nd quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after buying an additional 1,232 shares during the period. Friedenthal Financial acquired a new position in FOX in the second quarter valued at $51,000. Intact Investment Management Inc. purchased a new stake in FOX during the third quarter valued at about $74,000. Central Pacific Bank Trust Division acquired a new stake in FOX during the first quarter worth about $97,000. Finally, GAMMA Investing LLC raised its holdings in shares of FOX by 267.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock worth $113,000 after purchasing an additional 2,569 shares during the period. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

FOX Trading Up 2.8 %

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

FOX (NASDAQ:FOX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the company posted $0.88 EPS. Equities analysts forecast that Fox Co. will post 3.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on FOX. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Barclays raised shares of FOX to a “hold” rating in a research report on Wednesday, October 9th.

Insider Activity

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

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.