California Public Employees Retirement System continued to hold its stake in shares of TESSCO Technologies Incorporated (NASDAQ:TESS) during the first quarter, Holdings Channel reports. The firm owned 52,775 shares of the communications equipment provider’s stock at the end of the first quarter. California Public Employees Retirement System’s holdings in TESSCO Technologies were worth $829,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TESS. Stifel Financial Corp raised its stake in shares of TESSCO Technologies by 3.6% in the first quarter. Stifel Financial Corp now owns 25,682 shares of the communications equipment provider’s stock valued at $398,000 after buying an additional 900 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of TESSCO Technologies by 0.3% in the first quarter. Deprince Race & Zollo Inc. now owns 604,608 shares of the communications equipment provider’s stock valued at $9,492,000 after buying an additional 1,949 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of TESSCO Technologies by 9.0% in the first quarter. Acadian Asset Management LLC now owns 29,726 shares of the communications equipment provider’s stock valued at $468,000 after buying an additional 2,462 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of TESSCO Technologies by 11.0% in the first quarter. Wells Fargo & Company MN now owns 47,587 shares of the communications equipment provider’s stock valued at $747,000 after buying an additional 4,700 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of TESSCO Technologies during the first quarter valued at about $249,000. Institutional investors and hedge funds own 60.53% of the company’s stock.

TESSCO Technologies Incorporated (TESS) remained flat at $13.00 during trading on Wednesday. The company’s stock had a trading volume of 1,831 shares. The company has a market cap of $108.81 million, a price-to-earnings ratio of 54.17 and a beta of 1.25. TESSCO Technologies Incorporated has a one year low of $9.75 and a one year high of $16.25. The company has a 50 day moving average price of $13.70 and a 200 day moving average price of $14.03.

TESSCO Technologies (NASDAQ:TESS) last posted its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. The business had revenue of $140.01 million for the quarter, compared to analysts’ expectations of $126.68 million. TESSCO Technologies had a net margin of 0.38% and a return on equity of 2.36%. Analysts anticipate that TESSCO Technologies Incorporated will post $0.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be given a $0.20 dividend. The ex-dividend date is Monday, August 7th. This represents a $0.80 annualized dividend and a yield of 6.15%. TESSCO Technologies’s dividend payout ratio is currently 320.00%.

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Separately, Zacks Investment Research raised shares of TESSCO Technologies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, July 21st.

About TESSCO Technologies

TESSCO Technologies Incorporated architects and delivers the product and value chain solutions to organizations responsible for building, operating, maintaining and reselling cellular, mobile communications, wireless-fidelity (Wi-Fi), machine-to-machine, Internet of Things and wireless backhaul systems.

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Institutional Ownership by Quarter for TESSCO Technologies (NASDAQ:TESS)

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