Yacktman Asset Management LP Trims Stock Holdings in Fox Co. (NASDAQ:FOXA)

Yacktman Asset Management LP cut its holdings in shares of Fox Co. (NASDAQ:FOXA) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities & 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 owned approximately 0.54% of FOX worth $77,397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Global Retirement Partners LLC grew its holdings in FOX by 862.2% during the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock worth $29,000 after acquiring an additional 845 shares in the last quarter. MV Capital Management Inc. increased its holdings in FOX by 36.5% in the third quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock valued at $44,000 after buying an additional 379 shares during the last quarter. GAMMA Investing LLC acquired a new stake in FOX during the fourth quarter valued at approximately $53,000. ING Groep NV acquired a new stake in FOX during the third quarter valued at approximately $58,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in FOX during the 4th quarter worth approximately $76,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wolfe Research raised FOX from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $35.00 in a report on Friday, February 23rd. Seaport Res Ptn raised shares of FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Macquarie upped their target price on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, TheStreet downgraded FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. One investment 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.40.

FOX Price Performance

NASDAQ FOXA traded down $0.26 on Friday, reaching $31.42. 886,603 shares of the stock traded hands, compared to its average volume of 3,315,597. Fox Co. has a 12 month low of $28.28 and a 12 month high of $35.40. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70. The firm’s fifty day simple moving average is $30.31 and its 200 day simple moving average is $30.41. The company has a market cap of $14.92 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 0.43 and a beta of 0.78.

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

FOX Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were issued a dividend of $0.26 per share. This represents a yield of 1.8%. The ex-dividend date was Tuesday, March 5th. FOX’s payout ratio is 30.77%.

FOX Company 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.