Fox Corporation $FOX Shares Sold by Yacktman Asset Management LP

Key Points

• Yacktman Asset Management trimmed its Fox Corporation stake by 3.9% in the fourth quarter, selling 228,907 shares and leaving it with 5.57 million shares worth about $361.6 million.
• Fox insiders also sold heavily: COO John Nallen and CEO Lachlan Murdoch together disposed of millions of dollars in stock, and insiders sold 1.59 million shares total over the last quarter.
• Analysts remain mixed on FOX, with an average Hold rating and a $75 price target, while the stock recently traded at $56.60 after Fox beat quarterly EPS and revenue estimates.

Yacktman Asset Management LP lowered its holdings in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,569,791 shares of the company's stock after selling 228,907 shares during the period. FOX comprises 5.1% of Yacktman Asset Management LP's portfolio, making the stock its 4th largest holding. Yacktman Asset Management LP owned approximately 1.25% of FOX worth $361,647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FOX. Root Financial Partners LLC acquired a new position in FOX during the third quarter worth about $26,000. Quent Capital LLC acquired a new position in FOX during the third quarter worth about $32,000. Brown Brothers Harriman & Co. raised its position in FOX by 336.9% during the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company's stock worth $35,000 after acquiring an additional 475 shares during the last quarter. First Horizon Corp acquired a new position in FOX during the third quarter worth about $74,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in FOX during the third quarter worth about $74,000. Institutional investors and hedge funds own 26.41% of the company's stock.

Insider Transactions at FOX

In other news, COO John Nallen sold 216,806 shares of FOX stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $57.68, for a total transaction of $12,505,370.08. Following the completion of the sale, the chief operating officer directly owned 362,206 shares in the company, valued at $20,892,042.08. The trade was a 37.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the sale, the chief executive officer owned 152 shares of the company's stock, valued at approximately $8,846.40. The trade was a 99.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,586,871 shares of company stock valued at $91,893,926. Insiders own 23.06% of the company's stock.

Trending Headlines about FOX

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Rupert Murdoch’s Fox is reportedly seeking government help as it worries about rising NFL rights costs, a reminder that Fox’s live sports portfolio remains a key driver of the business and a major focus for investors. Why Rupert Murdoch is asking Donald Trump for help fighting the NFL
• Neutral Sentiment: Fox News continued to generate attention with multiple high-profile political and national-security stories, including coverage of Iran, immigration, and declassified UFO files, which can help support audience engagement but do not by themselves change Fox Corporation’s fundamentals. Trump admin releases highly anticipated files documenting UFOs, 'extraterrestrial life'
• Neutral Sentiment: Additional Fox News video coverage on Iran, crime, and lifestyle topics underscores continued content volume and audience reach, but these items appear incremental rather than a direct stock catalyst. CENTCOM releases video of US forces striking Iran-flagged tankers

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Bank of America restated an "underperform" rating and set a $45.00 target price (down from $80.00) on shares of FOX in a research report on Wednesday, February 25th. Zacks Research cut shares of FOX from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 5th. Finally, Wells Fargo & Company downgraded shares of FOX from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $75.00.

FOX Stock Performance

Shares of NASDAQ FOX opened at $56.60 on Friday. The company has a market cap of $24.08 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 6.92 and a beta of 0.54. Fox Corporation has a 12 month low of $46.56 and a 12 month high of $68.18. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44. The company has a 50-day simple moving average of $54.31 and a 200-day simple moving average of $58.24.

FOX (NASDAQ:FOX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.31. The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.06 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. On average, equities analysts anticipate that Fox Corporation will post 4.59 earnings per share for the current year.

FOX Company Profile

Fox Corporation NASDAQ: FOX is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX's core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.

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