Whittier Trust Co. of Nevada Inc. maintained its position in Gannett Co. (NYSE:GCI) during the second quarter, Holdings Channel reports. The fund owned 8,390 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Gannett were worth $116,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GCI. Riverhead Capital Management LLC increased its stake in shares of Gannett by 318.5% in the first quarter. Riverhead Capital Management LLC now owns 384,284 shares of the company’s stock worth $5,818,000 after buying an additional 292,450 shares during the period. Bank of Montreal Can acquired a new stake in shares of Gannett during the second quarter worth about $2,461,000. BlackRock Fund Advisors increased its stake in shares of Gannett by 2.8% in the first quarter. BlackRock Fund Advisors now owns 5,657,894 shares of the company’s stock worth $85,661,000 after buying an additional 155,280 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Gannett by 22.8% in the first quarter. Nuveen Asset Management LLC now owns 645,479 shares of the company’s stock worth $9,773,000 after buying an additional 119,800 shares during the period. Finally, UBS Group AG increased its stake in shares of Gannett by 76.8% in the first quarter. UBS Group AG now owns 209,647 shares of the company’s stock worth $3,175,000 after buying an additional 91,077 shares during the period. 91.75% of the stock is owned by hedge funds and other institutional investors.
Gannett Co. (NYSE:GCI) traded down 1.763% during mid-day trading on Thursday, hitting $10.865. The stock had a trading volume of 404,492 shares. The firm has a market cap of $1.27 billion, a PE ratio of 12.446 and a beta of 0.03. The company has a 50-day moving average of $11.68 and a 200-day moving average of $13.88. Gannett Co. has a 12-month low of $10.82 and a 12-month high of $17.91.
Gannett (NYSE:GCI) last issued its earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.01. The firm earned $748.80 million during the quarter, compared to analysts’ expectations of $794.77 million. Gannett had a return on equity of 17.02% and a net margin of 3.62%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. Analysts expect that Gannett Co. will post $1.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, December 5th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.79%. Gannett’s dividend payout ratio is currently 74.42%.
A number of analysts have issued reports on GCI shares. Jefferies Group reaffirmed a “hold” rating on shares of Gannett in a report on Monday, August 22nd. Zacks Investment Research downgraded Gannett from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Finally, Noble Financial reaffirmed a “buy” rating and set a $23.00 price target on shares of Gannett in a report on Wednesday, June 29th. Three research 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 “Hold” and an average price target of $17.80.
Gannett Company Profile
Gannett Co, Inc is an international, multi-platform news and information company. The Company is a local content provider in the United States, operating in over 30 states and Guam. Its operations comprise approximately 110 daily publications and digital platforms in the United States and the United Kingdom, over 400 non-daily publications in the United States, and approximately 150 such titles in the United Kingdom.