Yacktman Asset Management LP Has $237.72 Million Stock Position in Fox Co. (NASDAQ:FOX)

Yacktman Asset Management LP lowered its stake in Fox Co. (NASDAQ:FOX) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 holdings, making the stock its 15th biggest holding. Yacktman Asset Management LP owned 1.78% of FOX worth $237,717,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alaska Permanent Fund Corp bought a new position in shares of FOX during the fourth quarter worth about $431,000. GAMMA Investing LLC acquired a new position in shares of FOX in the 4th quarter worth approximately $54,000. CWM LLC increased its position in shares of FOX by 27.9% during the fourth quarter. CWM LLC now owns 2,486 shares of the company’s stock worth $69,000 after buying an additional 543 shares during the period. abrdn plc raised its stake in FOX by 69.2% during the fourth quarter. abrdn plc now owns 56,137 shares of the company’s stock worth $1,552,000 after buying an additional 22,956 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in FOX by 148.7% in the fourth quarter. Federated Hermes Inc. now owns 3,245 shares of the company’s stock valued at $90,000 after buying an additional 1,940 shares during the period. Institutional investors own 26.41% of the company’s stock.

FOX Trading Down 0.7 %

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

FOX (NASDAQ:FOX) last issued its earnings results 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 net margin of 5.75% and a return on equity of 15.81%. The business had revenue of $4.23 billion for the quarter. During the same period in the prior year, the company earned $0.48 earnings per share.

FOX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were paid 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 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Tuesday, March 5th. FOX’s dividend payout ratio is 30.77%.

Wall Street Analysts Forecast Growth

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

About FOX

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.