Yacktman Asset Management LP Cuts Position in Fox Corporation (NASDAQ:FOXA)

Yacktman Asset Management LP lessened its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 29.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,747,654 shares of the company's stock after selling 714,557 shares during the quarter. Yacktman Asset Management LP owned 0.39% of FOX worth $98,917,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. WealthTrak Capital Management LLC bought a new position in shares of FOX in the fourth quarter worth about $26,000. Jones Financial Companies Lllp boosted its stake in shares of FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after acquiring an additional 249 shares during the period. CIBC Private Wealth Group LLC boosted its stake in FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after buying an additional 368 shares during the last quarter. MV Capital Management Inc. boosted its stake in FOX by 929.9% during the first quarter. MV Capital Management Inc. now owns 690 shares of the company's stock valued at $39,000 after buying an additional 623 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new position in FOX during the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 52.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley increased their price target on FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Bank of America increased their price target on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wolfe Research raised FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday. Loop Capital increased their price target on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Cowen reissued a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, FOX has an average rating of "Hold" and an average target price of $53.53.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at $7,405,941.90. This trade represents a 22.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 21.77% of the stock is owned by insiders.

FOX Trading Down 2.9%

Shares of FOXA stock traded down $1.62 on Friday, reaching $55.11. 2,322,476 shares of the company's stock were exchanged, compared to its average volume of 3,614,723. Fox Corporation has a 52 week low of $35.43 and a 52 week high of $58.74. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $24.78 billion, a PE ratio of 13.71, a P/E/G ratio of 1.23 and a beta of 0.51. The company's fifty day simple moving average is $54.56 and its 200 day simple moving average is $52.71.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. FOX had a return on equity of 17.99% and a net margin of 11.58%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the company earned $1.40 EPS. FOX's quarterly revenue was up 26.8% compared to the same quarter last year. As a group, analysts forecast that Fox Corporation will post 4.38 EPS for the current year.

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.