Yacktman Asset Management LP Has $329.41 Million Stock Holdings in Fox Co. (NASDAQ:FOX)

Yacktman Asset Management LP decreased its position in shares of Fox Co. (NASDAQ:FOX) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,201,888 shares of the company’s stock after selling 796,792 shares during the period. FOX accounts for about 3.9% of Yacktman Asset Management LP’s investment portfolio, making the stock its 6th largest position. Yacktman Asset Management LP’s holdings in FOX were worth $329,414,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of FOX by 7.5% in the third quarter. State Street Corp now owns 9,639,382 shares of the company’s stock worth $374,008,000 after purchasing an additional 671,511 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of FOX by 3.1% in the third quarter. Geode Capital Management LLC now owns 3,109,955 shares of the company’s stock valued at $120,299,000 after acquiring an additional 92,515 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of FOX by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock worth $135,890,000 after acquiring an additional 1,095,073 shares during the period. Janus Henderson Group PLC grew its position in shares of FOX by 15.2% during the third quarter. Janus Henderson Group PLC now owns 1,716,165 shares of the company’s stock worth $66,582,000 after purchasing an additional 226,867 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in FOX by 212.7% during the 3rd quarter. National Bank of Canada FI now owns 1,437,637 shares of the company’s stock valued at $55,780,000 after purchasing an additional 977,907 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Insider Activity

In related news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total transaction of $35,521,075.68. The disclosure for this sale can be found here. Corporate insiders own 23.06% of the company’s stock.

FOX Stock Performance

Shares of NASDAQ FOX opened at $50.35 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. The company has a market cap of $23.00 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.47 and a beta of 0.82. Fox Co. has a 52-week low of $25.82 and a 52-week high of $52.54. The firm’s fifty day moving average is $46.46 and its two-hundred day moving average is $41.47.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.35. FOX had a net margin of 14.39% and a return on equity of 18.50%. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, analysts anticipate that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is 11.56%.

Wall Street Analysts Forecast Growth

Separately, Moffett Nathanson downgraded FOX from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st.

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.