BW Gestao de Investimentos Ltda. increased its holdings in TEGNA Inc. (NYSE:TGNA) by 90.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,344 shares of the company’s stock after purchasing an additional 8,687 shares during the quarter. BW Gestao de Investimentos Ltda.’s holdings in TEGNA were worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of TEGNA by 1.1% in the first quarter. Vanguard Group Inc. now owns 21,056,913 shares of the company’s stock worth $539,479,000 after purchasing an additional 231,675 shares during the last quarter. BlackRock Inc. grew its stake in shares of TEGNA by 32.2% in the second quarter. BlackRock Inc. now owns 17,593,214 shares of the company’s stock worth $253,518,000 after purchasing an additional 4,286,497 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of TEGNA by 90.5% in the second quarter. Victory Capital Management Inc. now owns 12,895,698 shares of the company’s stock worth $185,828,000 after purchasing an additional 6,127,293 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of TEGNA by 31.7% in the second quarter. Diamond Hill Capital Management Inc. now owns 11,120,237 shares of the company’s stock worth $160,243,000 after purchasing an additional 2,676,789 shares during the last quarter. Finally, State Street Corp grew its stake in shares of TEGNA by 1.0% in the first quarter. State Street Corp now owns 9,731,739 shares of the company’s stock worth $249,313,000 after purchasing an additional 92,596 shares during the last quarter. 98.00% of the stock is currently owned by institutional investors.
Several research firms have weighed in on TGNA. BidaskClub cut TEGNA from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Zacks Investment Research cut TEGNA from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. ValuEngine raised TEGNA from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Royal Bank Of Canada began coverage on TEGNA in a research report on Tuesday, September 26th. They set a “sector perform” rating and a $14.00 price objective on the stock. Finally, Benchmark Co. reaffirmed a “buy” rating and set a $20.00 price objective on shares of TEGNA in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.63.
TEGNA Inc. (NYSE TGNA) traded down 0.88% during trading on Friday, hitting $12.40. 527,311 shares of the stock traded hands. TEGNA Inc. has a 12 month low of $11.46 and a 12 month high of $17.06. The firm has a market cap of $2.67 billion, a PE ratio of 15.16 and a beta of 1.73. The firm has a 50-day moving average price of $12.76 and a 200 day moving average price of $14.38.
TEGNA (NYSE:TGNA) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. The firm had revenue of $489.36 million for the quarter, compared to the consensus estimate of $486.29 million. During the same period last year, the firm earned $0.50 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts forecast that TEGNA Inc. will post $1.09 EPS for the current fiscal year.
TEGNA announced that its board has approved a share buyback plan on Tuesday, September 19th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 11.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.28 dividend on an annualized basis and a yield of 2.24%. TEGNA’s payout ratio is 16.97%.
TEGNA Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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