California Public Employees Retirement System boosted its stake in Gannett Co Inc (NYSE:GCI) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 671,729 shares of the company’s stock after acquiring an additional 40,679 shares during the period. California Public Employees Retirement System owned 0.60% of Gannett worth $6,046,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in Gannett in the 3rd quarter valued at about $232,000. Evercore Trust Company N.A. acquired a new position in Gannett in the 3rd quarter valued at about $5,722,000. Stifel Financial Corp increased its position in Gannett by 39.3% in the 3rd quarter. Stifel Financial Corp now owns 18,167 shares of the company’s stock valued at $162,000 after acquiring an additional 5,124 shares during the period. OxFORD Asset Management LLP acquired a new position in Gannett in the 3rd quarter valued at about $1,045,000. Finally, Dimensional Fund Advisors LP increased its position in Gannett by 10.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,751,566 shares of the company’s stock worth $60,764,000 after purchasing an additional 641,893 shares during the period. Hedge funds and other institutional investors own 84.66% of the company’s stock.
In related news, insider John M. Zidich sold 17,954 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $10.71, for a total value of $192,287.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 20,579 shares of company stock valued at $222,035 in the last ninety days. Company insiders own 0.74% of the company’s stock.
Gannett Co Inc (GCI) opened at $11.84 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $1,285.34, a P/E ratio of 30.36 and a beta of 0.85. Gannett Co Inc has a 52-week low of $7.36 and a 52-week high of $12.38.
Gannett (NYSE:GCI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Gannett had a net margin of 1.43% and a return on equity of 13.25%. The firm had revenue of $744.30 million during the quarter, compared to analyst estimates of $762.97 million. During the same quarter last year, the business posted ($0.21) EPS. The company’s revenue was down 3.6% on a year-over-year basis. sell-side analysts forecast that Gannett Co Inc will post 0.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 26th. Investors of record on Tuesday, December 12th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend was Monday, December 11th. Gannett’s dividend payout ratio is 164.11%.
Separately, Zacks Investment Research upgraded Gannett from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Buy”.
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Gannett Company 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.
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