Geode Capital Management LLC lifted its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,905,588 shares of the company's stock after purchasing an additional 238,696 shares during the period. Geode Capital Management LLC owned 3.04% of TEGNA worth $77,422,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Bailard Inc. acquired a new position in TEGNA in the second quarter valued at about $302,000. Miller Howard Investments Inc. NY lifted its position in TEGNA by 1.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company's stock valued at $586,000 after acquiring an additional 726 shares in the last quarter. Innealta Capital LLC acquired a new position in TEGNA in the 2nd quarter worth $116,000. Signaturefd LLC increased its holdings in TEGNA by 65.0% during the 2nd quarter. Signaturefd LLC now owns 14,951 shares of the company's stock worth $208,000 after purchasing an additional 5,889 shares in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of TEGNA in the 2nd quarter valued at about $3,313,000. 92.19% of the stock is owned by institutional investors and hedge funds.
Insider Activity at TEGNA
In other news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $16.40, for a total transaction of $410,000.00. Following the completion of the transaction, the chief operating officer now owns 154,617 shares in the company, valued at approximately $2,535,718.80. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by company insiders.
TEGNA Trading Up 1.5 %
Shares of TGNA stock traded up $0.27 during mid-day trading on Friday, reaching $18.40. 6,081,874 shares of the stock traded hands, compared to its average volume of 2,184,578. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 6.50 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 stock's fifty day simple moving average is $17.77 and its two-hundred day simple moving average is $15.62. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62.
TEGNA (NYSE:TGNA - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The business had revenue of $806.83 million during the quarter, compared to analyst estimates of $795.72 million. During the same period last year, the company earned $0.39 EPS. TEGNA's revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current fiscal year.
TEGNA Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, December 6th. TEGNA's dividend payout ratio is presently 17.67%.
Wall Street Analysts Forecast Growth
TGNA has been the topic of a number of research reports. StockNews.com raised shares of TEGNA from a "hold" rating to a "buy" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. boosted their price target on TEGNA from $16.00 to $19.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised TEGNA from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $21.00 to $23.00 in a report on Thursday. Finally, Benchmark raised their price target on TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, November 8th.
Check Out Our Latest Analysis on TEGNA
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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