Junto Capital Management LP Invests $34.77 Million in Fox Corporation $FOXA

Key Points

• Junto Capital Management established a new 666,653-share position in Fox Corporation valued at approximately $34.77 million, while institutional investors collectively own 52.52% of FOX.
• FOX reported strong quarterly results, with adjusted earnings of $1.79 per share and revenue of $4.21 billion, beating estimates and increasing 28.1% year over year.
• Shares recently traded at $63.86, while analysts maintain a consensus “Hold” rating with an average price target of $74.38; FOX also declared a $0.29-per-share dividend.

Junto Capital Management LP acquired a new position in Fox Corporation (NASDAQ:FOXA - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 666,653 shares of the company's stock, valued at approximately $34,773,000. Junto Capital Management LP owned approximately 0.16% of FOX at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in FOX by 4,720.6% during the 2nd quarter. California State Teachers Retirement System now owns 19,330,183 shares of the company's stock valued at $1,008,262,000 after acquiring an additional 18,929,193 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of FOX by 72.0% in the second quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company's stock worth $101,948,000 after purchasing an additional 762,645 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of FOX in the second quarter worth $21,519,000. SG Americas Securities LLC increased its holdings in shares of FOX by 299.8% during the first quarter. SG Americas Securities LLC now owns 511,811 shares of the company's stock valued at $29,890,000 after purchasing an additional 383,782 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of FOX by 624.5% during the second quarter. Lazard Asset Management LLC now owns 281,126 shares of the company's stock valued at $15,753,000 after purchasing an additional 242,321 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Trading Down 2.1%

Shares of FOX stock opened at $63.86 on Thursday. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The firm has a market cap of $26.80 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.17 and a beta of 0.55. The business has a fifty day simple moving average of $61.59 and a 200-day simple moving average of $60.77. Fox Corporation has a fifty-two week low of $48.34 and a fifty-two week high of $76.39.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the company earned $1.27 earnings per share. FOX's revenue was up 28.1% compared to the same quarter last year. On average, equities analysts forecast that Fox Corporation will post 5.94 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 2nd. This represents a dividend yield of 86.0%. FOX's dividend payout ratio (DPR) is 15.14%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FOXA shares. Rothschild & Co Redburn set a $71.00 price objective on shares of FOX and gave the company a "buy" rating in a research note on Friday, July 10th. Barclays decreased their target price on shares of FOX from $67.00 to $60.00 and set an "equal weight" rating for the company in a research report on Monday, June 15th. UBS Group reissued a "neutral" rating on shares of FOX in a research note on Monday, June 15th. Seaport Research Partners downgraded shares of FOX from a "buy" rating to a "neutral" rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. raised shares of FOX from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $70.00 to $82.00 in a research note on Friday, August 14th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $74.38.

FOX Profile

Fox Corporation NASDAQ: FOXA is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.

Fox's businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.

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