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

Yacktman Asset Management LP lessened its stake in Fox Co. (NASDAQ:FOXA) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,462,211 shares of the company’s stock after selling 113,630 shares during the quarter. Yacktman Asset Management LP’s holdings in FOX were worth $119,614,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in FOX by 5.4% in the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock valued at $405,194,000 after buying an additional 425,186 shares in the last quarter. KBC Group NV grew its holdings in shares of FOX by 56.1% in the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after acquiring an additional 851,127 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in FOX by 228.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after purchasing an additional 964,737 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in FOX by 308.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock worth $59,174,000 after purchasing an additional 919,883 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in FOX by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after purchasing an additional 110,753 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analyst Ratings Changes

FOXA has been the subject of several research reports. Macquarie reaffirmed a “neutral” rating and set a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. Moffett Nathanson cut shares of FOX from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Barclays increased their price target on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. TD Cowen lifted their price objective on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company increased their target price on FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, FOX presently has a consensus rating of “Hold” and an average target price of $50.19.

FOX Trading Up 0.9 %

Shares of FOXA opened at $53.25 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.50. Fox Co. has a one year low of $28.28 and a one year high of $55.56. The stock has a 50-day moving average price of $49.03 and a 200 day moving average price of $44.30. The company has a market capitalization of $24.32 billion, a P/E ratio of 11.40, a P/E/G ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. Sell-side analysts forecast that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio (DPR) is presently 11.56%.

Insider Transactions at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

About FOX

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.