Schroder Investment Management Group cut its holdings in Gannett Co Inc (NYSE:GCI) by 69.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 422,288 shares of the company’s stock after selling 966,473 shares during the quarter. Schroder Investment Management Group’s holdings in Gannett were worth $4,227,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in GCI. FMR LLC grew its holdings in Gannett by 5.0% during the 3rd quarter. FMR LLC now owns 1,845,288 shares of the company’s stock valued at $18,471,000 after buying an additional 88,422 shares in the last quarter. BlackRock Inc. boosted its stake in Gannett by 3.7% during the third quarter. BlackRock Inc. now owns 16,183,546 shares of the company’s stock worth $161,997,000 after buying an additional 570,900 shares during the period. Bank of New York Mellon Corp boosted its stake in Gannett by 4.1% during the third quarter. Bank of New York Mellon Corp now owns 3,288,985 shares of the company’s stock worth $32,922,000 after buying an additional 129,340 shares during the period. Heartland Advisors Inc. lifted its position in shares of Gannett by 27.2% during the third quarter. Heartland Advisors Inc. now owns 1,287,087 shares of the company’s stock worth $12,884,000 after purchasing an additional 274,961 shares during the last quarter. Finally, AXA lifted its position in shares of Gannett by 1.2% during the third quarter. AXA now owns 537,100 shares of the company’s stock worth $5,376,000 after purchasing an additional 6,600 shares during the last quarter. 97.89% of the stock is currently owned by hedge funds and other institutional investors.
GCI stock opened at $10.20 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.14 billion, a P/E ratio of 9.90 and a beta of 0.85. Gannett Co Inc has a 1-year low of $9.04 and a 1-year high of $12.23.
Gannett (NYSE:GCI) last released its quarterly earnings data on Thursday, November 8th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $711.70 million during the quarter, compared to the consensus estimate of $723.60 million. Gannett had a return on equity of 12.75% and a net margin of 0.52%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. On average, sell-side analysts anticipate that Gannett Co Inc will post 1.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 24th. Investors of record on Monday, December 10th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.64 annualized dividend and a dividend yield of 6.27%. Gannett’s payout ratio is currently 62.14%.
Several analysts have recently weighed in on GCI shares. Noble Financial set a $17.00 target price on Gannett and gave the stock a “buy” rating in a research report on Friday, August 10th. ValuEngine upgraded Gannett from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Zacks Investment Research downgraded Gannett from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Finally, TheStreet downgraded Gannett from a “b-” rating to a “c” rating in a report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $12.00.
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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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