JPMorgan Chase & Co. Boosts Holdings in Gannett Co Inc (GCI)

JPMorgan Chase & Co. lifted its position in Gannett Co Inc (NYSE:GCI) by 158.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,549,481 shares of the company’s stock after buying an additional 949,923 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.39% of Gannett worth $13,915,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Teachers Advisors LLC raised its stake in Gannett by 2.7% in the first quarter. Teachers Advisors LLC now owns 208,391 shares of the company’s stock valued at $1,746,000 after purchasing an additional 5,425 shares in the last quarter. Bank of Montreal Can raised its stake in Gannett by 0.7% in the second quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock valued at $110,000 after purchasing an additional 89 shares in the last quarter. Aperio Group LLC raised its stake in Gannett by 51.8% in the second quarter. Aperio Group LLC now owns 69,965 shares of the company’s stock valued at $610,000 after purchasing an additional 23,874 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Gannett by 3.8% in the second quarter. Great West Life Assurance Co. Can now owns 161,521 shares of the company’s stock valued at $1,407,000 after purchasing an additional 5,900 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in Gannett by 0.8% in the second quarter. Texas Permanent School Fund now owns 82,928 shares of the company’s stock valued at $723,000 after purchasing an additional 692 shares in the last quarter. 84.66% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised shares of Gannett from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Buy”.

In other Gannett news, insider John M. Zidich sold 17,954 shares of Gannett stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $10.71, for a total transaction of $192,287.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 20,579 shares of company stock worth $222,035 over the last three months. Insiders own 0.74% of the company’s stock.

Gannett Co Inc (GCI) traded down $0.05 during mid-day trading on Thursday, hitting $11.50. 692,784 shares of the company’s stock traded hands, compared to its average volume of 1,350,000. The stock has a market capitalization of $1,290.00 and a P/E ratio of 25.00. Gannett Co Inc has a 52-week low of $7.36 and a 52-week high of $12.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.09 and a quick ratio of 1.09.

Gannett (NYSE:GCI) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. The firm had revenue of $744.30 million for the quarter, compared to the consensus estimate of $762.97 million. Gannett had a net margin of 1.43% and a return on equity of 13.25%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.21) earnings per share. equities analysts forecast that Gannett Co Inc will post 0.94 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 12th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 5.57%. The ex-dividend date of this dividend was Monday, December 11th. Gannett’s dividend payout ratio (DPR) is presently 139.13%.

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Gannett Profile

Gannett Co, Inc is a media company. The Company operates as a newspaper publisher in the United States. As of December 25, 2016, it owned ReachLocal, Inc (ReachLocal), a digital marketing solutions company; the USA TODAY NETWORK (made up of USA TODAY including digital sites and affiliates (USAT) and 109 local media organizations in 34 states in the United States and Guam), and Newsquest Media Group Ltd.

Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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