Two Sigma Investments LP lessened its stake in Tribune (NYSE:TRCO) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590,934 shares of the company’s stock after selling 67,815 shares during the period. Two Sigma Investments LP owned approximately 0.67% of Tribune worth $26,817,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in shares of Tribune by 23.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,666 shares of the company’s stock valued at $76,000 after purchasing an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Tribune by 7.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,517 shares of the company’s stock valued at $250,000 after purchasing an additional 402 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Tribune by 1.0% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 97,597 shares of the company’s stock valued at $4,429,000 after purchasing an additional 980 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Tribune in the 4th quarter valued at $64,000. Finally, Havens Advisors LLC boosted its stake in shares of Tribune by 1.2% in the 4th quarter. Havens Advisors LLC now owns 124,500 shares of the company’s stock valued at $5,650,000 after purchasing an additional 1,500 shares in the last quarter. 94.26% of the stock is owned by institutional investors and hedge funds.
NYSE:TRCO traded down $0.03 during midday trading on Wednesday, reaching $46.05. 11,418 shares of the stock traded hands, compared to its average volume of 986,248. Tribune has a 12 month low of $31.61 and a 12 month high of $46.46. The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $4.05 billion, a P/E ratio of 12.52, a P/E/G ratio of 2.58 and a beta of 0.57.
Tribune (NYSE:TRCO) last posted its quarterly earnings results on Friday, March 1st. The company reported $1.55 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.02. Tribune had a net margin of 20.53% and a return on equity of 9.50%. The company had revenue of $578.73 million during the quarter, compared to analyst estimates of $577.59 million. During the same period in the prior year, the business posted $0.81 EPS. The firm’s revenue was up 18.3% compared to the same quarter last year. As a group, analysts anticipate that Tribune will post 1.92 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Monday, March 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, March 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.17%. Tribune’s dividend payout ratio is currently 27.17%.
A number of equities research analysts have recently issued reports on TRCO shares. Wolfe Research started coverage on shares of Tribune in a research note on Friday, December 7th. They issued an “underperform” rating and a $44.00 price objective for the company. Zacks Investment Research raised shares of Tribune from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research note on Tuesday, December 25th. Gabelli started coverage on shares of Tribune in a research note on Tuesday, November 27th. They issued a “buy” rating for the company. FinnCap started coverage on shares of Tribune in a research note on Tuesday, November 27th. They issued a “buy” rating for the company. Finally, ValuEngine raised shares of Tribune from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Tribune has a consensus rating of “Hold” and a consensus target price of $42.17.
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Tribune Company Profile
Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, MY television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network.
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