Yacktman Asset Management LP Decreases Stock Position in Fox Corporation (NASDAQ:FOX)

Yacktman Asset Management LP cut its holdings in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 8.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,568,340 shares of the company's stock after selling 633,548 shares during the quarter. FOX makes up 4.6% of Yacktman Asset Management LP's portfolio, making the stock its 6th largest position. Yacktman Asset Management LP owned about 1.45% of FOX worth $346,217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in FOX by 82.7% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,355 shares of the company's stock valued at $1,126,000 after buying an additional 9,669 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in FOX by 24.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,449 shares of the company's stock valued at $287,000 after buying an additional 1,060 shares in the last quarter. KBC Group NV grew its holdings in FOX by 35.8% in the 1st quarter. KBC Group NV now owns 34,095 shares of the company's stock valued at $1,797,000 after buying an additional 8,987 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in FOX by 9.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,483 shares of the company's stock valued at $883,000 after buying an additional 1,528 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in FOX by 5.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 61,623 shares of the company's stock valued at $3,248,000 after buying an additional 2,973 shares in the last quarter. 26.41% of the stock is owned by institutional investors.

FOX Stock Performance

NASDAQ FOX traded down $1.31 on Friday, reaching $50.59. The stock had a trading volume of 916,863 shares, compared to its average volume of 1,262,020. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.45 and a quick ratio of 2.33. The firm has a fifty day moving average of $50.23 and a two-hundred day moving average of $49.06. Fox Corporation has a 1-year low of $33.29 and a 1-year high of $55.00. The company has a market cap of $22.75 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.14 and a beta of 0.56.

FOX (NASDAQ:FOX - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.14. FOX had a return on equity of 17.99% and a net margin of 11.58%. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.19 billion. On average, equities research analysts anticipate that Fox Corporation will post 4.25 EPS for the current year.

Insider Activity at FOX

In related 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 value of $2,192,202.60. Following the transaction, the chief financial officer owned 133,923 shares in the company, valued at approximately $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.06% of the company's stock.

About FOX

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.