Clark Estates Inc. NY Sells 19,491 Shares of TEGNA Inc. (NYSE:TGNA)

Clark Estates Inc. NY lowered its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 160,859 shares of the company's stock after selling 19,491 shares during the period. Clark Estates Inc. NY owned 0.10% of TEGNA worth $2,942,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in TEGNA by 2,898.4% in the third quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company's stock worth $170,521,000 after buying an additional 10,445,739 shares during the last quarter. State Street Corp boosted its position in TEGNA by 3.5% during the third quarter. State Street Corp now owns 8,194,619 shares of the company's stock worth $129,991,000 after purchasing an additional 276,699 shares during the period. Geode Capital Management LLC lifted its position in TEGNA by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,905,588 shares of the company's stock worth $77,422,000 after purchasing an additional 238,696 shares during the period. Charles Schwab Investment Management Inc. lifted its position in TEGNA by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company's stock worth $34,260,000 after purchasing an additional 93,894 shares during the period. Finally, Principal Financial Group Inc. lifted its position in TEGNA by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 911,617 shares of the company's stock worth $16,673,000 after purchasing an additional 20,129 shares during the period. Institutional investors and hedge funds own 92.19% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several brokerages recently commented on TGNA. JPMorgan Chase & Co. raised their target price on TEGNA from $16.00 to $19.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Benchmark raised their target price on TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Guggenheim reaffirmed a "buy" rating and issued a $22.00 target price on shares of TEGNA in a research report on Friday, January 24th. StockNews.com cut TEGNA from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company upgraded TEGNA from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $21.00 to $23.00 in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $21.75.

TEGNA Price Performance

TEGNA stock traded up $0.16 during mid-day trading on Friday, hitting $17.80. 1,807,831 shares of the company were exchanged, compared to its average volume of 1,877,058. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62. The company has a market capitalization of $2.87 billion, a PE ratio of 6.29 and a beta of 0.52. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The business has a fifty day moving average of $18.07 and a 200 day moving average of $17.02.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.81%. TEGNA's dividend payout ratio (DPR) is presently 14.12%.

TEGNA Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.