TEGNA Inc. (NYSE:TGNA) Position Reduced by Yousif Capital Management LLC

Yousif Capital Management LLC lowered its stake in TEGNA Inc. (NYSE:TGNA) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,632 shares of the company’s stock after selling 1,362 shares during the period. Yousif Capital Management LLC’s holdings in TEGNA were worth $1,196,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in shares of TEGNA during the 4th quarter valued at $27,000. Neo Ivy Capital Management bought a new stake in TEGNA during the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC boosted its holdings in TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock valued at $31,000 after acquiring an additional 832 shares during the period. Tower Research Capital LLC TRC boosted its holdings in TEGNA by 80.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company’s stock valued at $31,000 after acquiring an additional 749 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of TEGNA during the fourth quarter valued at about $32,000. 92.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TGNA has been the subject of several research reports. JPMorgan Chase & Co. reduced their target price on shares of TEGNA from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, May 21st. Wall Street Zen cut shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Guggenheim increased their price target on shares of TEGNA from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Benchmark dropped their price target on shares of TEGNA from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price target on shares of TEGNA from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

TEGNA Stock Performance

NYSE TGNA opened at $16.34 on Wednesday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 5.75 and a beta of 0.30. The company has a 50 day moving average of $16.54 and a 200-day moving average of $17.55. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.83. TEGNA Inc. has a 1-year low of $12.66 and a 1-year high of $19.62.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. TEGNA had a net margin of 15.29% and a return on equity of 17.13%. The business had revenue of $680.05 million for the quarter, compared to analysts’ expectations of $677.24 million. During the same period in the prior year, the firm earned $0.45 earnings per share. TEGNA’s revenue was down 4.8% compared to the same quarter last year. On average, equities analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Friday, June 6th. TEGNA’s dividend payout ratio is presently 17.61%.

About TEGNA

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.