Gannett Co., Inc. (GCI) Stake Lessened by California State Teachers Retirement System
California State Teachers Retirement System lowered its position in shares of Gannett Co., Inc. (NYSE:GCI) by 12.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,594 shares of the company’s stock after selling 28,965 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Gannett Co. worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of Gannett Co. by 0.7% during the 2nd quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock worth $110,000 after buying an additional 89 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Gannett Co. during the 2nd quarter worth approximately $113,000. BB&T Securities LLC purchased a new position in shares of Gannett Co. during the 2nd quarter worth approximately $129,000. WBI Investments Inc. purchased a new position in shares of Gannett Co. during the 2nd quarter worth approximately $170,000. Finally, Sei Investments Co. boosted its position in shares of Gannett Co. by 48.7% during the 2nd quarter. Sei Investments Co. now owns 19,561 shares of the company’s stock worth $171,000 after purchasing an additional 6,409 shares during the period. Institutional investors and hedge funds own 83.84% of the company’s stock.
In other Gannett Co. news, insider John M. Zidich sold 17,954 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $10.71, for a total value of $192,287.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.74% of the company’s stock.
A number of equities analysts recently weighed in on GCI shares. ValuEngine raised shares of Gannett Co. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub raised shares of Gannett Co. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of Gannett Co. from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Buy”.
Gannett Co., Inc. (GCI) opened at $11.28 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.43. The firm has a market cap of $1,197.05, a P/E ratio of 10.93 and a beta of 0.59. Gannett Co., Inc. has a 1 year low of $7.36 and a 1 year high of $11.41.
Gannett Co. (NYSE:GCI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. The firm had revenue of $744.30 million during the quarter, compared to analysts’ expectations of $762.97 million. Gannett Co. had a net margin of 1.43% and a return on equity of 13.25%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.21) EPS. analysts expect that Gannett Co., Inc. will post 0.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 12th will be given a $0.16 dividend. The ex-dividend date is Monday, December 11th. This represents a $0.64 annualized dividend and a yield of 5.67%. Gannett Co.’s dividend payout ratio is presently 164.11%.
Gannett Co. Company Profile
Gannett Co, Inc is a media company. The Company operates as a newspaper publisher in the United States. As of December 25, 2016, it owned ReachLocal, Inc (ReachLocal), a digital marketing solutions company; the USA TODAY NETWORK (made up of USA TODAY including digital sites and affiliates (USAT) and 109 local media organizations in 34 states in the United States and Guam), and Newsquest Media Group Ltd.
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