Fox Corporation (NASDAQ:FOX) Stake Reduced by Yacktman Asset Management LP

Yacktman Asset Management LP lowered its stake in Fox Corporation (NASDAQ:FOX - Free Report) by 8.8% during the first quarter, according to the company in its most recent filing with the 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 about 4.6% of Yacktman Asset Management LP's holdings, making the stock its 6th biggest position. Yacktman Asset Management LP owned about 1.45% of FOX worth $346,217,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC lifted its stake in shares of FOX by 135.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company's stock worth $42,000 after purchasing an additional 522 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of FOX by 82.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company's stock worth $61,000 after buying an additional 608 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of FOX by 327.3% during the 1st quarter. Versant Capital Management Inc now owns 1,346 shares of the company's stock worth $71,000 after buying an additional 1,031 shares during the last quarter. Westpac Banking Corp increased its holdings in shares of FOX by 84.0% during the 4th quarter. Westpac Banking Corp now owns 1,625 shares of the company's stock worth $74,000 after buying an additional 742 shares during the last quarter. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of FOX during the 4th quarter worth $89,000. Hedge funds and other institutional investors own 26.41% of the company's stock.

FOX Trading Up 2.5%

Shares of FOX stock traded up $1.29 on Thursday, reaching $51.90. 993,190 shares of the stock were exchanged, compared to its average volume of 1,055,539. The stock has a market cap of $23.34 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 1.14 and a beta of 0.56. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $50.23 and a two-hundred day moving average of $49.06. Fox Corporation has a 1-year low of $33.00 and a 1-year high of $55.00.

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

Insider Activity at FOX

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the transaction, the chief financial officer directly owned 133,923 shares of the company's stock, valued at $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.06% of the stock is currently owned by insiders.

FOX 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.