Campbell & CO Investment Adviser LLC bought a new stake in shares of TEGNA Inc. (NYSE:TGNA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 10,376 shares of the company’s stock, valued at approximately $116,000.
Other large investors also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. grew its holdings in TEGNA by 201.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 51,221 shares of the company’s stock worth $722,000 after buying an additional 34,221 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in TEGNA by 7.7% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,903 shares of the company’s stock worth $164,000 after buying an additional 710 shares in the last quarter. Geode Capital Management LLC grew its holdings in TEGNA by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 2,963,077 shares of the company’s stock worth $49,453,000 after buying an additional 85,776 shares in the last quarter. Norges Bank bought a new position in TEGNA in the 4th quarter worth approximately $52,288,000. Finally, State of Alaska Department of Revenue grew its holdings in TEGNA by 4.3% in the 1st quarter. State of Alaska Department of Revenue now owns 40,924 shares of the company’s stock worth $443,000 after buying an additional 1,685 shares in the last quarter. 97.06% of the stock is owned by institutional investors.
TGNA has been the subject of a number of recent analyst reports. Barrington Research reissued a “buy” rating and issued a $15.00 price objective on shares of TEGNA in a report on Monday, July 13th. Benchmark decreased their price objective on TEGNA from $22.00 to $18.00 and set a “buy” rating for the company in a report on Friday, May 8th. Zacks Investment Research lowered TEGNA from a “buy” rating to a “hold” rating and set a $13.00 price objective for the company. in a report on Wednesday, April 8th. Wells Fargo & Co increased their price target on TEGNA from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, ValuEngine raised TEGNA from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $15.13.
Shares of NYSE TGNA opened at $11.78 on Friday. The stock has a fifty day moving average price of $11.16 and a two-hundred day moving average price of $13.12. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market cap of $2.57 billion, a P/E ratio of 8.66, a PEG ratio of 0.76 and a beta of 1.36. TEGNA Inc. has a 1 year low of $9.61 and a 1 year high of $18.31.
TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. TEGNA had a return on equity of 21.17% and a net margin of 12.10%. The company had revenue of $684.20 million during the quarter, compared to the consensus estimate of $684.00 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. On average, research analysts predict that TEGNA Inc. will post 1.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.38%. TEGNA’s dividend payout ratio (DPR) is presently 20.29%.
TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.
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