Mcdonald Partners LLC raised its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 45.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,050 shares of the company's stock after purchasing an additional 13,800 shares during the period. Mcdonald Partners LLC's holdings in TEGNA were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in TEGNA during the third quarter valued at $28,000. GAMMA Investing LLC grew its holdings in TEGNA by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock valued at $37,000 after purchasing an additional 757 shares during the period. Sound Income Strategies LLC bought a new position in shares of TEGNA in the fourth quarter worth $57,000. Quarry LP boosted its holdings in shares of TEGNA by 455.2% in the third quarter. Quarry LP now owns 4,025 shares of the company's stock worth $64,000 after acquiring an additional 3,300 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company's stock worth $71,000 after acquiring an additional 764 shares during the period. 92.19% of the stock is owned by institutional investors.
Analysts Set New Price Targets
TGNA has been the subject of a number of analyst reports. Wells Fargo & Company raised TEGNA from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $21.00 to $23.00 in a report on Thursday, December 19th. StockNews.com raised TEGNA from a "hold" rating to a "buy" rating in a report on Friday, December 13th. Guggenheim reaffirmed a "buy" rating and issued a $22.00 price target on shares of TEGNA in a report on Friday, January 24th. JPMorgan Chase & Co. raised their price target on TEGNA from $16.00 to $19.00 and gave the stock a "neutral" rating in a report on Tuesday, November 12th. Finally, Benchmark raised their price target on TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $21.75.
View Our Latest Analysis on TEGNA
TEGNA Price Performance
NYSE:TGNA traded down $0.34 during trading hours on Friday, hitting $17.81. 1,502,377 shares of the company's stock traded hands, compared to its average volume of 965,734. The firm has a market cap of $2.87 billion, a P/E ratio of 6.29 and a beta of 0.52. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The business's fifty day simple moving average is $18.22 and its two-hundred day simple moving average is $16.79. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07.
TEGNA Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.81%. The ex-dividend date is Friday, March 7th. TEGNA's dividend payout ratio is 17.67%.
TEGNA Profile
(
Free Report)
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.
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