Dean Capital Management Decreases Stake in TEGNA Inc. $TGNA

Key Points

• Dean Capital Management has reduced its stake in TEGNA Inc. by 30.6%, now owning 86,349 shares after selling 38,007 shares in the first quarter.
• TEGNA announced a quarterly dividend of $0.125 per share, with a yield of 2.4%, to be paid on October 1st.
• Analysts have set diverse price targets for TEGNA, with Guggenheim and Wells Fargo maintaining a "neutral" and "overweight" rating, respectively, and a consensus price target of $19.75.

Dean Capital Management lowered its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 30.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,349 shares of the company's stock after selling 38,007 shares during the quarter. Dean Capital Management owned 0.05% of TEGNA worth $1,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of TGNA. Neo Ivy Capital Management purchased a new position in shares of TEGNA in the fourth quarter worth $28,000. Tower Research Capital LLC TRC raised its stake in shares of TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock worth $31,000 after purchasing an additional 749 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of TEGNA by 53.3% in the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after purchasing an additional 1,088 shares during the last quarter. Amundi increased its position in TEGNA by 1,507.5% during the first quarter. Amundi now owns 4,067 shares of the company's stock valued at $74,000 after acquiring an additional 3,814 shares during the last quarter. Finally, Blue Trust Inc. increased its position in TEGNA by 26.0% during the first quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock valued at $77,000 after acquiring an additional 873 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Stock Performance

NYSE:TGNA opened at $21.01 on Tuesday. The stock has a 50-day simple moving average of $18.51 and a two-hundred day simple moving average of $17.52. TEGNA Inc. has a 52-week low of $13.55 and a 52-week high of $21.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $3.38 billion, a PE ratio of 7.56 and a beta of 0.28.

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

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. TEGNA's payout ratio is currently 17.99%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Guggenheim reiterated a "neutral" rating and set a $19.00 price objective on shares of TEGNA in a research report on Friday, August 22nd. Wells Fargo & Company reiterated an "overweight" rating and set a $22.00 price objective (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Finally, JPMorgan Chase & Co. reduced their price objective on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $19.75.

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.

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