Junto Capital Management LP Invests $53.68 Million in Fox Corporation $FOXA

Key Points

• Junto Capital Management LP has acquired a new position in Fox Corporation, purchasing 948,421 shares valued at approximately $53.68 million, which accounts for 1.1% of their investment portfolio.
• Fox Corporation recently announced a dividend increase to $0.28 per share, with an ex-dividend date set for September 3rd, reflecting a yield of 94.0%.
• Analysts have mixed ratings on FOX stock, with nine analysts giving a Buy rating, nine issuing a Hold, and one a Sell, as the consensus target price is $56.20.

Junto Capital Management LP purchased a new stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 948,421 shares of the company's stock, valued at approximately $53,681,000. FOX comprises 1.1% of Junto Capital Management LP's investment portfolio, making the stock its 27th largest position. Junto Capital Management LP owned approximately 0.21% of FOX as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FOXA. Vanguard Group Inc. boosted its position in shares of FOX by 2.1% during the first quarter. Vanguard Group Inc. now owns 25,739,628 shares of the company's stock valued at $1,456,863,000 after buying an additional 518,835 shares during the last quarter. Invesco Ltd. lifted its stake in FOX by 3.0% during the 1st quarter. Invesco Ltd. now owns 3,680,293 shares of the company's stock valued at $208,305,000 after acquiring an additional 107,687 shares in the last quarter. Northern Trust Corp boosted its holdings in FOX by 17.1% during the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock worth $170,111,000 after acquiring an additional 511,554 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of FOX by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company's stock worth $130,043,000 after acquiring an additional 219,016 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its holdings in shares of FOX by 8.8% in the first quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company's stock valued at $149,218,000 after purchasing an additional 212,348 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 133,923 shares of the company's stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 21.77% of the company's stock.

FOX Stock Performance

Shares of NASDAQ FOXA traded up $1.35 during trading on Tuesday, reaching $61.05. 3,470,581 shares of the stock traded hands, compared to its average volume of 3,893,336. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. The stock has a market capitalization of $27.20 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. Fox Corporation has a 52-week low of $38.72 and a 52-week high of $61.10. The company has a 50-day moving average of $56.68 and a 200-day moving average of $54.45.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.26. The business had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%.The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Analysts forecast that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be issued a $0.28 dividend. This is a boost from FOX's previous dividend of $0.18. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a yield of 94.0%. FOX's payout ratio is 11.00%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of FOX from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Barclays restated an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. Wells Fargo & Company lifted their price target on FOX from $62.00 to $66.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Loop Capital upped their price objective on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.20.

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.