Yacktman Asset Management LP Sells 11,962 Shares of Fox Co. (NASDAQ:FOXA)

Yacktman Asset Management LP reduced its position in shares of Fox Co. (NASDAQ:FOXA) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,608,580 shares of the company’s stock after selling 11,962 shares during the quarter. Yacktman Asset Management LP’s holdings in FOX were worth $77,397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Northern Trust Corp raised its position in shares of FOX by 67.8% during the 3rd quarter. Northern Trust Corp now owns 5,640,787 shares of the company’s stock valued at $175,993,000 after acquiring an additional 2,279,923 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in FOX during the third quarter valued at approximately $27,780,000. Allspring Global Investments Holdings LLC increased its stake in FOX by 269.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 996,333 shares of the company’s stock valued at $31,086,000 after purchasing an additional 726,672 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in FOX by 39.9% in the third quarter. Great Lakes Advisors LLC now owns 2,414,239 shares of the company’s stock worth $75,324,000 after purchasing an additional 688,193 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of FOX by 42.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,283,300 shares of the company’s stock worth $71,239,000 after purchasing an additional 684,280 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Price Performance

FOX stock traded down $0.26 during mid-day trading on Friday, reaching $31.42. 886,603 shares of the company were exchanged, compared to its average volume of 3,315,597. The company has a fifty day simple moving average of $30.31 and a 200-day simple moving average of $30.41. The firm has a market cap of $14.92 billion, a PE ratio of 18.75, a PEG ratio of 0.43 and a beta of 0.78. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.01. Fox Co. has a 12 month low of $28.28 and a 12 month high of $35.40.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.24. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. FOX’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. As a group, equities research analysts expect that Fox Co. will post 3.19 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a yield of 1.8%. FOX’s dividend payout ratio (DPR) is 30.77%.

Analyst Ratings Changes

FOXA has been the topic of several recent analyst reports. Rosenblatt Securities reiterated a “neutral” rating and set a $34.00 target price on shares of FOX in a report on Monday, April 15th. TheStreet cut FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Citigroup raised FOX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $35.00 in a research note on Friday, February 23rd. Macquarie increased their price objective on shares of FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Finally, Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, FOX presently has an average rating of “Hold” and a consensus price target of $33.40.

FOX 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.