Capital Management Corp VA Buys 151,645 Shares of TEGNA Inc. $TGNA

Key Points

• Capital Management Corp VA increased its stake in TEGNA Inc. by 19.7%, holding a total of 920,820 shares, making TEGNA its 16th largest position.
• TEGNA reported a quarterly earnings per share of $0.44, exceeding estimates, although its revenue decreased by 5.0% year-over-year.
• The company announced a quarterly dividend of $0.125 per share, which demonstrates a 2.5% dividend yield and a low payout ratio of 17.99%.

Capital Management Corp VA increased its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 19.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 920,820 shares of the company's stock after purchasing an additional 151,645 shares during the quarter. TEGNA comprises about 2.6% of Capital Management Corp VA's holdings, making the stock its 16th largest position. Capital Management Corp VA owned 0.57% of TEGNA worth $15,433,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management grew its holdings in TEGNA by 0.4% during the 1st quarter. LSV Asset Management now owns 7,828,750 shares of the company's stock valued at $142,640,000 after buying an additional 32,121 shares in the last quarter. Millennium Management LLC boosted its position 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 valued at $46,442,000 after acquiring an additional 866,970 shares during the period. Bridgeway Capital Management LLC grew its stake in TEGNA by 10.1% during the first quarter. Bridgeway Capital Management LLC now owns 1,358,042 shares of the company's stock valued at $24,744,000 after acquiring an additional 124,713 shares in the last quarter. Principal Financial Group Inc. grew its stake in TEGNA by 2.5% during the first quarter. Principal Financial Group Inc. now owns 934,711 shares of the company's stock valued at $17,030,000 after acquiring an additional 23,094 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in TEGNA by 1.1% during the 1st quarter. Victory Capital Management Inc. now owns 918,416 shares of the company's stock worth $16,734,000 after acquiring an additional 10,249 shares during the period. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Price Performance

Shares of TEGNA stock opened at $20.02 on Wednesday. The company has a fifty day moving average of $20.42 and a 200-day moving average of $18.00. TEGNA Inc. has a 52-week low of $14.87 and a 52-week high of $21.35. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 7.20 and a beta of 0.25. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47.

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

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, September 5th. TEGNA's dividend payout ratio is 17.99%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of TEGNA in a report on Wednesday, October 8th. Guggenheim reissued a "neutral" rating and set a $19.00 price objective on shares of TEGNA in a research note on Friday, August 22nd. Wells Fargo & Company restated an "overweight" rating and set a $22.00 target price (up from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Finally, Zacks Research cut TEGNA from a "hold" rating to a "strong sell" rating in a report on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $19.75.

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.

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