Murphy Pohlad Asset Management LLC Has $1,517,000 Stake in Tribune Media Co. (TRCO)
Murphy Pohlad Asset Management LLC decreased its position in Tribune Media Co. (NYSE:TRCO) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,560 shares of the company’s stock after selling 400 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Tribune Media were worth $1,517,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in TRCO. Vanguard Group Inc. increased its position in Tribune Media by 2.5% in the second quarter. Vanguard Group Inc. now owns 5,483,523 shares of the company’s stock worth $214,845,000 after buying an additional 132,994 shares during the period. State Street Corp increased its position in Tribune Media by 1.1% in the second quarter. State Street Corp now owns 1,031,179 shares of the company’s stock worth $40,399,000 after buying an additional 10,971 shares during the period. River Road Asset Management LLC increased its position in Tribune Media by 6.7% in the second quarter. River Road Asset Management LLC now owns 739,791 shares of the company’s stock worth $28,985,000 after buying an additional 46,702 shares during the period. FMR LLC increased its position in Tribune Media by 487.6% in the second quarter. FMR LLC now owns 629,695 shares of the company’s stock worth $24,671,000 after buying an additional 522,525 shares during the period. Finally, Levin Capital Strategies L.P. increased its position in Tribune Media by 24.8% in the second quarter. Levin Capital Strategies L.P. now owns 590,821 shares of the company’s stock worth $23,148,000 after buying an additional 117,515 shares during the period.
Shares of Tribune Media Co. (NYSE:TRCO) traded up 0.53% during trading on Monday, hitting $34.43. The stock had a trading volume of 504,917 shares. Tribune Media Co. has a one year low of $26.10 and a one year high of $40.72. The stock’s market cap is $3.01 billion. The stock’s 50-day moving average price is $33.57 and its 200 day moving average price is $36.94.
Tribune Media (NYSE:TRCO) last released its earnings results on Wednesday, November 9th. The company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.04. The firm had revenue of $518.10 million for the quarter, compared to analyst estimates of $547.90 million. Tribune Media had a positive return on equity of 4.27% and a negative net margin of 18.26%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. On average, equities analysts forecast that Tribune Media Co. will post $2.03 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Monday, November 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, November 17th. Tribune Media’s dividend payout ratio is -24.39%.
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A number of research firms recently commented on TRCO. Jefferies Group reiterated a “hold” rating on shares of Tribune Media in a research note on Monday, September 12th. Zacks Investment Research upgraded Tribune Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 13th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Tribune Media in a research note on Monday, September 26th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $43.80.
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