New York State Teachers Retirement System trimmed its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 227,754 shares of the company's stock after selling 21,407 shares during the period. New York State Teachers Retirement System owned 0.14% of TEGNA worth $4,166,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of TEGNA by 59.0% in 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 last quarter. US Bancorp DE grew its stake in TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company's stock valued at $71,000 after buying an additional 764 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in TEGNA by 7.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company's stock valued at $284,000 after acquiring an additional 1,239 shares during the period. Covestor Ltd lifted its position in TEGNA by 20.8% during the third quarter. Covestor Ltd now owns 8,852 shares of the company's stock worth $140,000 after acquiring an additional 1,525 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of TEGNA during the third quarter worth approximately $28,000. 92.19% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
TGNA has been the subject of several analyst reports. Benchmark lifted their price objective on shares of TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Wells Fargo & Company upgraded shares of TEGNA from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. StockNews.com raised TEGNA from a "hold" rating to a "buy" rating in a research report on Friday, December 13th. Guggenheim reaffirmed a "buy" rating and issued a $22.00 price objective on shares of TEGNA in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their target price on TEGNA from $16.00 to $19.00 and gave the stock a "neutral" rating in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.75.
View Our Latest Analysis on TGNA
TEGNA Stock Performance
Shares of TEGNA stock traded down $0.38 during trading hours on Monday, hitting $17.46. 1,775,288 shares of the company's stock traded hands, compared to its average volume of 1,102,485. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 6.17 and a beta of 0.52. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The company has a fifty day simple moving average of $18.20 and a 200-day simple moving average of $16.85.
TEGNA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA's dividend payout ratio (DPR) is 17.67%.
TEGNA Company Profile
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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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