South Dakota Investment Council lessened its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 164,636 shares of the company's stock after selling 46,088 shares during the quarter. South Dakota Investment Council owned 0.10% of TEGNA worth $3,011,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of TGNA. Harbor Capital Advisors Inc. bought a new stake in TEGNA during the third quarter worth about $28,000. GAMMA Investing LLC raised its stake in TEGNA by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after acquiring an additional 757 shares in the last quarter. Sound Income Strategies LLC acquired a new position in TEGNA during the fourth quarter worth about $57,000. Quarry LP raised its stake in TEGNA by 455.2% during 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 in the last quarter. Finally, US Bancorp DE raised its stake in TEGNA by 20.4% during 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 in the last quarter. Institutional investors own 92.19% of the company's stock.
Analyst Ratings Changes
TGNA has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on TEGNA from $16.00 to $19.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Wells Fargo & Company raised TEGNA from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $21.00 to $23.00 in a research note on Thursday, December 19th. Guggenheim reaffirmed a "buy" rating and issued a $22.00 price objective on shares of TEGNA in a research note on Friday, January 24th. Benchmark upped their price objective on TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Finally, StockNews.com raised TEGNA from a "hold" rating to a "buy" rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $21.75.
Check Out Our Latest Analysis on TGNA
TEGNA Stock Up 8.2 %
Shares of TGNA traded up $1.36 during trading hours on Thursday, reaching $17.99. The stock had a trading volume of 2,448,933 shares, compared to its average volume of 1,228,180. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62. The firm has a 50-day simple moving average of $18.16 and a 200 day simple moving average of $16.88. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 6.36 and a beta of 0.52.
TEGNA (NYSE:TGNA - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.25 by ($0.04). TEGNA had a net margin of 16.75% and a return on equity of 14.49%. Equities research analysts predict that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.
TEGNA Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA's dividend payout ratio is 17.67%.
About TEGNA
(
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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