Kodai Capital Management LP Has $19.63 Million Stock Holdings in TEGNA Inc. $TGNA

Key Points

• Kodai Capital Management LP reduced its stake in TEGNA Inc. by 14.7%, now holding 1,077,617 shares valued at approximately $19.63 million.
• TEGNA's stock opened at $21.17 and has a market cap of $3.41 billion, with a price-to-earnings ratio of 7.61.
• The company recently announced a quarterly dividend of $0.125, yielding 2.4%, with a payout ratio of 17.99%.

Kodai Capital Management LP lowered its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 14.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,077,617 shares of the company's stock after selling 185,536 shares during the quarter. Kodai Capital Management LP owned about 0.67% of TEGNA worth $19,634,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TGNA. PNC Financial Services Group Inc. raised its stake in shares of TEGNA by 15.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,058 shares of the company's stock valued at $92,000 after purchasing an additional 694 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of TEGNA by 80.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after purchasing an additional 749 shares during the period. Blue Trust Inc. raised its stake in shares of TEGNA by 26.0% in the 1st quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock valued at $77,000 after purchasing an additional 873 shares during the period. GAMMA Investing LLC raised its stake in shares of TEGNA by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $57,000 after purchasing an additional 1,088 shares during the period. Finally, Integrated Advisors Network LLC grew its holdings in shares of TEGNA by 7.9% in the 4th quarter. Integrated Advisors Network LLC now owns 16,040 shares of the company's stock valued at $293,000 after acquiring an additional 1,171 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Wells Fargo & Company restated an "overweight" rating and issued a $22.00 price objective (up previously from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Guggenheim restated a "neutral" rating and issued a $19.00 price objective on shares of TEGNA in a report on Friday, August 22nd. Finally, Benchmark decreased their price objective on TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

TEGNA Stock Performance

Shares of NYSE:TGNA traded down $0.03 during trading on Tuesday, reaching $21.18. 2,186,697 shares of the stock were exchanged, compared to its average volume of 2,002,612. TEGNA Inc. has a 12 month low of $13.44 and a 12 month high of $21.35. The firm has a market cap of $3.41 billion, a PE ratio of 7.62 and a beta of 0.28. The stock has a 50-day moving average price of $18.09 and a 200-day moving average price of $17.41. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.82.

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

TEGNA Announces Dividend

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

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.