Yacktman Asset Management LP Lowers Position in Fox Co. (NASDAQ:FOXA)

Yacktman Asset Management LP lessened its position in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,462,211 shares of the company's stock after selling 113,630 shares during the period. Yacktman Asset Management LP owned approximately 0.54% of FOX worth $119,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX in the 4th quarter valued at $28,000. Brooklyn Investment Group boosted its stake in FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company's stock valued at $39,000 after buying an additional 466 shares in the last quarter. Quest Partners LLC bought a new position in FOX in the third quarter valued at about $51,000. Quarry LP acquired a new position in FOX during the third quarter worth about $70,000. Finally, Versant Capital Management Inc lifted its holdings in shares of FOX by 3,551.1% in the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company's stock worth $83,000 after acquiring an additional 1,669 shares during the last quarter. 52.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FOXA. Moffett Nathanson lowered shares of FOX from a "buy" rating to a "neutral" rating and lifted their price target for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. TD Cowen upped their price target on shares of FOX from $36.00 to $42.00 and gave the stock a "hold" rating in a report on Tuesday, November 5th. Evercore ISI raised FOX to a "hold" rating in a report on Tuesday, November 5th. Barclays boosted their price objective on FOX from $39.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Citigroup increased their target price on FOX from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $51.00.

Insider Activity

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 transaction, the insider now directly owns 29,897 shares of the company's stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by company insiders.

FOX Trading Up 0.4 %

NASDAQ FOXA traded up $0.22 during mid-day trading on Friday, reaching $55.67. 1,923,577 shares of the stock were exchanged, compared to its average volume of 3,452,904. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.33. The stock has a market cap of $25.43 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.17 and a beta of 0.76. The stock has a 50 day simple moving average of $49.65 and a 200-day simple moving average of $44.67. Fox Co. has a one year low of $28.28 and a one year high of $55.86.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.34 EPS. The firm's revenue was up 19.9% compared to the same quarter last year. On average, analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

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

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.