Yacktman Asset Management LP Trims Holdings in Fox Co. (NASDAQ:FOX)

Yacktman Asset Management LP reduced its holdings in shares of Fox Co. (NASDAQ:FOX) by 1.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,597,368 shares of the company’s stock after selling 118,996 shares during the period. FOX makes up 2.2% of Yacktman Asset Management LP’s investment portfolio, making the stock its 15th largest holding. Yacktman Asset Management LP’s holdings in FOX were worth $237,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. DnB Asset Management AS lifted its stake in shares of FOX by 51.7% in the 3rd quarter. DnB Asset Management AS now owns 65,379 shares of the company’s stock worth $1,888,000 after acquiring an additional 22,283 shares during the period. Czech National Bank increased its position in FOX by 42.5% during the 3rd quarter. Czech National Bank now owns 23,058 shares of the company’s stock worth $666,000 after purchasing an additional 6,882 shares during the period. Handelsbanken Fonder AB raised its stake in shares of FOX by 47.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 35,796 shares of the company’s stock worth $1,034,000 after buying an additional 11,452 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of FOX by 30.1% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 143,601 shares of the company’s stock valued at $4,147,000 after buying an additional 33,200 shares during the period. Finally, Xponance Inc. boosted its stake in shares of FOX by 12.7% in the third quarter. Xponance Inc. now owns 24,798 shares of the company’s stock valued at $716,000 after buying an additional 2,788 shares in the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, TheStreet downgraded FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th.

FOX Price Performance

FOX stock traded down $0.20 during trading on Friday, reaching $29.05. 372,229 shares of the company were exchanged, compared to its average volume of 1,286,098. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29. The stock’s 50 day moving average price is $27.76 and its 200 day moving average price is $28.09. Fox Co. has a 52-week low of $25.82 and a 52-week high of $33.24. The company has a market cap of $13.80 billion, a P/E ratio of 17.31 and a beta of 0.85.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.23. FOX had a return on equity of 15.81% and a net margin of 5.75%. The firm had revenue of $4.23 billion during the quarter. During the same period in the prior year, the firm posted $0.48 earnings per share.

FOX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.26 per share. This is an increase from FOX’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 3.58%. The ex-dividend date was Tuesday, March 5th. FOX’s dividend payout ratio (DPR) is 30.77%.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.