Fox Corporation (NASDAQ:FOX) Holdings Cut by Yacktman Asset Management LP

Yacktman Asset Management LP decreased its position in Fox Corporation (NASDAQ:FOX - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,568,340 shares of the company's stock after selling 633,548 shares during the period. FOX comprises approximately 4.6% of Yacktman Asset Management LP's holdings, making the stock its 6th largest holding. Yacktman Asset Management LP owned 1.45% of FOX worth $346,217,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of FOX in the 4th quarter valued at $138,822,000. Contrarius Group Holdings Ltd bought a new position in shares of FOX in the 4th quarter valued at about $57,766,000. Independent Franchise Partners LLP grew its holdings in FOX by 15.4% during the fourth quarter. Independent Franchise Partners LLP now owns 5,706,386 shares of the company's stock worth $261,010,000 after purchasing an additional 759,874 shares during the period. Amundi lifted its position in FOX by 83.0% during the fourth quarter. Amundi now owns 1,549,002 shares of the company's stock worth $72,199,000 after acquiring an additional 702,561 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of FOX by 7,082.8% in the first quarter. GAMMA Investing LLC now owns 472,914 shares of the company's stock valued at $24,927,000 after buying an additional 466,330 shares in the last quarter. Institutional investors and hedge funds own 26.41% of the company's stock.

Insider Buying and Selling

In other news, CFO Steven Tomsic sold 5,607 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares of the company's stock, valued at $7,415,316.51. This represents a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.06% of the company's stock.

FOX Price Performance

NASDAQ:FOX traded up $0.93 during mid-day trading on Thursday, reaching $51.54. The stock had a trading volume of 354,870 shares, compared to its average volume of 1,259,562. The stock has a 50-day simple moving average of $50.11 and a two-hundred day simple moving average of $49.03. The stock has a market capitalization of $23.17 billion, a PE ratio of 12.82, a P/E/G ratio of 1.14 and a beta of 0.56. Fox Corporation has a 12 month low of $33.00 and a 12 month high of $55.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.45 and a quick ratio of 2.33.

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