Fox Co. (NASDAQ:FOXA) Stake Cut by Yacktman Asset Management LP

Yacktman Asset Management LP trimmed its position in Fox Co. (NASDAQ:FOXA - Free Report) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,575,841 shares of the company's stock after selling 14,756 shares during the quarter. Yacktman Asset Management LP owned 0.55% of FOX worth $109,035,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in FOX by 70.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,595 shares of the company's stock valued at $2,378,000 after purchasing an additional 30,866 shares during the period. Janney Montgomery Scott LLC boosted its holdings in FOX by 66.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,396 shares of the company's stock worth $419,000 after acquiring an additional 5,331 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of FOX by 2.9% during the first quarter. Daiwa Securities Group Inc. now owns 28,254 shares of the company's stock valued at $884,000 after purchasing an additional 784 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of FOX during the first quarter worth $329,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of FOX by 16.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 33,659 shares of the company's stock valued at $1,053,000 after purchasing an additional 4,776 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FOX

In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO John Nallen sold 52,874 shares of the company's stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 249,424 shares of the company's stock, valued at $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares of the company's stock, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 21.77% of the stock is owned by corporate insiders.

FOX Stock Performance

NASDAQ FOXA traded up $0.60 on Tuesday, hitting $43.60. The stock had a trading volume of 7,832,659 shares, compared to its average volume of 2,984,395. The company's 50-day moving average is $41.39 and its two-hundred day moving average is $37.34. Fox Co. has a one year low of $28.28 and a one year high of $45.82. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 1.90 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. On average, analysts expect that Fox Co. will post 3.69 earnings per share for the current year.

Analysts Set New Price Targets

FOXA has been the topic of several analyst reports. Evercore ISI lifted their price target on shares of FOX from $33.00 to $38.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 7th. Cfra reiterated a "sell" rating on shares of FOX in a research note on Wednesday, September 25th. Loop Capital lifted their price objective on FOX from $43.00 to $46.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Wells Fargo & Company increased their target price on FOX from $46.00 to $49.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Barclays upped their price target on shares of FOX from $36.00 to $39.00 and gave the company an "equal weight" rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $44.00.

FOX Company 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.