Capstone Asset Management Co. Has $311,000 Position in TEGNA Inc. (TGNA)
Capstone Asset Management Co. cut its stake in shares of TEGNA Inc. (NYSE:TGNA) by 12.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,582 shares of the company’s stock after selling 3,081 shares during the period. Capstone Asset Management Co.’s holdings in TEGNA were worth $311,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in TGNA. Sei Investments Co. raised its position in TEGNA by 2.0% in the first quarter. Sei Investments Co. now owns 175,358 shares of the company’s stock valued at $4,493,000 after buying an additional 3,382 shares during the period. Clark Capital Management Group Inc. acquired a new position in TEGNA during the first quarter valued at approximately $14,889,000. BNP Paribas Arbitrage SA raised its position in TEGNA by 11.2% in the first quarter. BNP Paribas Arbitrage SA now owns 179,586 shares of the company’s stock valued at $4,601,000 after buying an additional 18,019 shares during the period. DnB Asset Management AS raised its position in TEGNA by 27.5% in the first quarter. DnB Asset Management AS now owns 15,779 shares of the company’s stock valued at $404,000 after buying an additional 3,400 shares during the period. Finally, Schroder Investment Management Group raised its position in TEGNA by 9.3% in the first quarter. Schroder Investment Management Group now owns 2,076,776 shares of the company’s stock valued at $53,705,000 after buying an additional 176,474 shares during the period. Institutional investors and hedge funds own 88.32% of the company’s stock.
Shares of TEGNA Inc. (NYSE TGNA) traded up 0.85% during midday trading on Friday, reaching $13.02. 1,676,583 shares of the company were exchanged. TEGNA Inc. has a 52-week low of $12.78 and a 52-week high of $26.65. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 15.92 and a beta of 1.75. The company’s 50-day moving average price is $14.36 and its 200 day moving average price is $20.96.
TEGNA (NYSE:TGNA) last posted its earnings results on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $486.29 million. During the same quarter in the prior year, the firm earned $0.50 EPS. TEGNA’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts predict that TEGNA Inc. will post $1.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 7th. TEGNA’s dividend payout ratio (DPR) is presently 16.97%.
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Several equities analysts recently commented on TGNA shares. FBR & Co dropped their target price on TEGNA from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Friday, May 5th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $16.50 price objective on shares of TEGNA in a report on Thursday, June 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $16.00 price objective on shares of TEGNA in a report on Thursday, June 1st. ValuEngine lowered TEGNA from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research lowered TEGNA from a “hold” rating to a “strong sell” rating in a report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. TEGNA has a consensus rating of “Hold” and a consensus target price of $21.44.
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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