Amundi Has $76.66 Million Stake in Fox Corporation $FOXA

Key Points

• Amundi reduced its stake in Fox Corporation (NASDAQ:FOXA) by 39.2%, now holding approximately $76.66 million worth of shares.
• Fox Corporation reported $3.29 billion in revenue for its last quarter, outperforming analyst estimates and achieving a $1.27 EPS.
• The company has announced an increase in its dividend to $0.28 per share, payable on September 24th, marking a significant boost from its prior dividend of $0.18.

Amundi trimmed its holdings in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 39.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,478,986 shares of the company's stock after selling 955,457 shares during the period. Amundi owned 0.33% of FOX worth $76,656,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in FOX by 26.5% during the 1st quarter. Royal Bank of Canada now owns 303,521 shares of the company's stock valued at $17,179,000 after purchasing an additional 63,538 shares in the last quarter. Caption Management LLC increased its stake in shares of FOX by 102.7% in the 1st quarter. Caption Management LLC now owns 78,487 shares of the company's stock valued at $4,442,000 after buying an additional 39,766 shares during the period. Ardmore Road Asset Management LP increased its stake in shares of FOX by 40.0% in the 1st quarter. Ardmore Road Asset Management LP now owns 420,000 shares of the company's stock valued at $23,772,000 after buying an additional 120,000 shares during the period. Junto Capital Management LP acquired a new stake in shares of FOX in the 1st quarter valued at $53,681,000. Finally, Aragon Global Management LP acquired a new stake in shares of FOX in the 1st quarter valued at $1,643,000. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Stock Up 1.1%

NASDAQ:FOXA opened at $61.50 on Friday. Fox Corporation has a 12-month low of $38.72 and a 12-month high of $61.52. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $27.40 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.47 and a beta of 0.52. The stock's fifty day simple moving average is $57.04 and its 200-day simple moving average is $54.58.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.26. FOX had a return on equity of 18.86% and a net margin of 13.88%.The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company earned $0.90 EPS. The firm's revenue was up 6.3% on a year-over-year basis. Equities research analysts expect that Fox Corporation will post 4.38 earnings per share for the current year.

FOX Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. This is a boost from FOX's previous dividend of $0.18. This represents a yield of 93.0%. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio is presently 11.41%.

Analyst Upgrades and Downgrades

FOXA has been the subject of several research reports. Bank of America lifted their target price on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a research note on Wednesday, June 25th. Barclays reissued an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Loop Capital lifted their target price on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Wolfe Research raised FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, July 9th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $56.20.

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.

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