Gotham Asset Management LLC Purchases 44,974 Shares of TEGNA Inc. (NYSE:TGNA)

Gotham Asset Management LLC grew its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 352.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,739 shares of the company's stock after buying an additional 44,974 shares during the period. Gotham Asset Management LLC's holdings in TEGNA were worth $1,056,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TGNA. Principal Financial Group Inc. grew its stake in TEGNA by 26.2% in the third quarter. Principal Financial Group Inc. now owns 891,488 shares of the company's stock worth $14,068,000 after purchasing an additional 184,845 shares during the period. Sound Income Strategies LLC bought a new position in shares of TEGNA during the fourth quarter valued at approximately $57,000. Linden Thomas Advisory Services LLC increased its stake in shares of TEGNA by 16.2% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 63,641 shares of the company's stock valued at $1,164,000 after purchasing an additional 8,855 shares in the last quarter. Blue Trust Inc. increased its stake in shares of TEGNA by 13.6% during the fourth quarter. Blue Trust Inc. now owns 25,155 shares of the company's stock valued at $460,000 after purchasing an additional 3,014 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of TEGNA by 35.5% during the fourth quarter. KBC Group NV now owns 7,713 shares of the company's stock valued at $141,000 after purchasing an additional 2,019 shares in the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.

TEGNA Stock Performance

Shares of NYSE:TGNA traded down $0.58 during midday trading on Wednesday, reaching $16.75. 912,316 shares of the company's stock traded hands, compared to its average volume of 1,966,413. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 5.92 and a beta of 0.31. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The stock has a 50 day moving average of $17.01 and a 200 day moving average of $17.77.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.03. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The firm had revenue of $680.05 million for the quarter, compared to the consensus estimate of $677.24 million. During the same period in the prior year, the company posted $0.45 earnings per share. The company's quarterly revenue was down 4.8% on a year-over-year basis. As a group, equities research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The company 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 $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, June 6th. TEGNA's dividend payout ratio is 17.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TGNA. StockNews.com cut TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Wells Fargo & Company cut their target price on TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Benchmark cut their target price on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut their target price on TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Guggenheim increased their target price on TEGNA from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

TEGNA Company 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.