Bank of New York Mellon Corp decreased its holdings in shares of Gannett (NYSE:GCI) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,532,724 shares of the company’s stock after selling 206,333 shares during the quarter. Bank of New York Mellon Corp owned about 2.27% of Gannett worth $29,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Prudential Financial Inc. raised its holdings in Gannett by 2.4% during the 3rd quarter. Prudential Financial Inc. now owns 897,666 shares of the company’s stock valued at $8,079,000 after acquiring an additional 21,150 shares during the period. JPMorgan Chase & Co. grew its position in shares of Gannett by 158.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,549,481 shares of the company’s stock valued at $13,915,000 after purchasing an additional 949,923 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of Gannett during the 3rd quarter valued at $331,000. Schwab Charles Investment Management Inc. grew its position in shares of Gannett by 15.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,797,837 shares of the company’s stock valued at $16,181,000 after purchasing an additional 234,682 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Gannett by 6.4% during the 3rd quarter. California Public Employees Retirement System now owns 671,729 shares of the company’s stock valued at $6,046,000 after purchasing an additional 40,679 shares in the last quarter. 89.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of GCI traded down $0.09 during mid-day trading on Friday, reaching $9.17. 1,876,903 shares of the stock traded hands, compared to its average volume of 1,560,674. The firm has a market capitalization of $1,034.60, a P/E ratio of 8.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.16 and a quick ratio of 1.10. Gannett has a 1 year low of $7.36 and a 1 year high of $12.38.
Gannett (NYSE:GCI) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.09. Gannett had a net margin of 0.22% and a return on equity of 13.29%. The firm had revenue of $854.00 million during the quarter, compared to analyst estimates of $848.74 million. During the same period in the previous year, the business earned $0.50 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. analysts expect that Gannett will post 1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 26th. Investors of record on Monday, March 12th were given a $0.16 dividend. The ex-dividend date was Friday, March 9th. This represents a $0.64 annualized dividend and a yield of 6.98%. Gannett’s dividend payout ratio (DPR) is presently 62.14%.
In other Gannett news, CEO Walker Henry K. Faure sold 20,097 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $10.03, for a total transaction of $201,572.91. Following the completion of the sale, the chief executive officer now directly owns 1,351 shares in the company, valued at $13,550.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert J. Dickey sold 19,533 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $10.35, for a total transaction of $202,166.55. Following the sale, the chief executive officer now owns 224,986 shares of the company’s stock, valued at $2,328,605.10. The disclosure for this sale can be found here. Insiders sold 78,673 shares of company stock valued at $804,778 over the last quarter. 0.74% of the stock is owned by company insiders.
Separately, ValuEngine upgraded shares of Gannett from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Gannett currently has a consensus rating of “Buy”.
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Gannett Company Profile
Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. The company offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 170 news brands and 80 magazines in the United Kingdom.
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