Kendall Capital Management Sells 1,210 Shares of TEGNA Inc. $TGNA

Kendall Capital Management cut its stake in TEGNA Inc. (NYSE:TGNA) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,332 shares of the company’s stock after selling 1,210 shares during the period. Kendall Capital Management’s holdings in TEGNA were worth $1,112,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TGNA. Millennium Management LLC grew its holdings in shares of TEGNA by 51.5% in the first quarter. Millennium Management LLC now owns 2,548,981 shares of the company’s stock worth $46,442,000 after purchasing an additional 866,970 shares during the last quarter. Nuveen LLC bought a new position in shares of TEGNA in the first quarter worth about $15,492,000. Deutsche Bank AG grew its holdings in shares of TEGNA by 383.6% in the first quarter. Deutsche Bank AG now owns 756,941 shares of the company’s stock worth $13,791,000 after purchasing an additional 600,407 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of TEGNA in the fourth quarter worth about $7,955,000. Finally, Jane Street Group LLC grew its holdings in shares of TEGNA by 193.0% in the first quarter. Jane Street Group LLC now owns 573,255 shares of the company’s stock worth $10,445,000 after purchasing an additional 377,578 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TGNA. Wells Fargo & Company restated an “overweight” rating and issued a $22.00 price target (up from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Guggenheim reiterated a “neutral” rating and set a $19.00 target price on shares of TEGNA in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, TEGNA presently has an average rating of “Moderate Buy” and an average price target of $19.75.

TEGNA Stock Down 1.0%

Shares of TEGNA stock opened at $20.29 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.47 and a quick ratio of 1.47. TEGNA Inc. has a 1 year low of $14.87 and a 1 year high of $21.35. The firm’s 50-day moving average is $19.58 and its two-hundred day moving average is $17.84. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 7.30 and a beta of 0.28.

TEGNA (NYSE:TGNA) last issued its earnings results on Thursday, August 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.06. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The company had revenue of $675.05 million for the quarter, compared to analysts’ expectations of $673.92 million. During the same period in the prior year, the business earned $0.50 EPS. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. TEGNA has set its Q3 2025 guidance at EPS. As a group, research analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, September 5th. TEGNA’s dividend payout ratio (DPR) is currently 17.99%.

TEGNA Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.