The Teacher Retirement System of Texas reached $348,000 position of Tegna Inc. (TGNA)

The Teacher Retirement System of Texas reached $348,000 position  of Tegna Inc. (TGNA)

Teacher Retirement System of Texas boosted its position in shares of Tegna Inc. (NYSE:TGNA) by 31.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,035 shares of the company’s stock after buying an additional 3,566 shares during the period. Teacher Retirement System of Texas’ holdings in Tegna were worth $348,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Glenmede Trust Co. NA raised its stake in shares of Tegna by 1,712.4% in the first quarter. Glenmede Trust Co. NA now owns 23,471 shares of the company’s stock worth $549,000 after buying an additional 22,176 shares in the last quarter. Commonwealth Equity Services Inc raised its position in shares of Tegna by 6.4% in the first quarter. Commonwealth Equity Services Inc now owns 20,711 shares of the company’s stock valued at $486,000 after buying an additional 1,243 shares during the period. Aperio Group LLC raised its position in shares of Tegna by 17.7% in the first quarter. Aperio Group LLC now owns 94,159 shares of the company’s stock valued at $2,209,000 after buying an additional 14,126 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Tegna by 1.4% in the first quarter. TIAA CREF Investment Management LLC now owns 413,440 shares of the company’s stock valued at $9,699,000 after buying an additional 5,775 shares during the period. Finally, Teachers Advisors Inc. raised its position in shares of Tegna by 8.9% in the first quarter. Teachers Advisors Inc. now owns 400,905 shares of the company’s stock valued at $9,405,000 after buying an additional 32,750 shares during the period. 87.80% of the stock is owned by hedge funds and other institutional investors.

Shares of Tegna Inc. (NYSE:TGNA) traded down 1.58% during mid-day trading on Thursday, hitting $19.92. 327,454 shares of the stock traded hands. Tegna Inc. has a one year low of $19.89 and a one year high of $28.95. The stock has a 50 day moving average price of $21.15 and a 200-day moving average price of $22.37. The company has a market cap of $4.27 billion, a P/E ratio of 10.76 and a beta of 1.70.

Tegna (NYSE:TGNA) last announced its earnings results on Tuesday, July 26th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. Tegna had a net margin of 13.69% and a return on equity of 17.02%. The firm earned $811.79 million during the quarter, compared to the consensus estimate of $814.56 million. During the same quarter in the previous year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts forecast that Tegna Inc. will post $2.33 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.77%. The ex-dividend date was Wednesday, September 7th. Tegna’s payout ratio is 28.72%.

TGNA has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Tegna from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Tegna in a research note on Monday, September 26th. Benchmark Co. initiated coverage on shares of Tegna in a research note on Friday, August 19th. They set a “buy” rating and a $26.00 target price for the company. TheStreet lowered shares of Tegna from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, FBR & Co lowered their target price on shares of Tegna from $25.00 to $24.00 and set a “mkt perform” rating for the company in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $26.88.

About Tegna

TEGNA Inc, formerly Gannett Co, Inc, includes a portfolio of media and digital businesses that provide content. The Company operates through two segments: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). Its media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content.

Related posts

Leave a Comment