Teacher Retirement System of Texas Has $2.77 Million Stake in TEGNA Inc. (NYSE:TGNA)

Teacher Retirement System of Texas lessened its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 26.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,831 shares of the company's stock after selling 53,829 shares during the quarter. Teacher Retirement System of Texas owned about 0.09% of TEGNA worth $2,766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of TEGNA by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company's stock worth $34,260,000 after acquiring an additional 93,894 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of TEGNA by 53.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,376 shares of the company's stock worth $341,000 after acquiring an additional 6,433 shares in the last quarter. Whitebox Advisors LLC increased its holdings in shares of TEGNA by 459.6% in the fourth quarter. Whitebox Advisors LLC now owns 142,703 shares of the company's stock worth $2,610,000 after acquiring an additional 117,203 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of TEGNA by 1,454.5% in the first quarter. Janney Montgomery Scott LLC now owns 179,765 shares of the company's stock worth $3,275,000 after acquiring an additional 168,201 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of TEGNA by 13,258.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 227,100 shares of the company's stock worth $4,154,000 after buying an additional 225,400 shares in the last quarter. Institutional investors own 92.19% of the company's stock.

TEGNA Stock Down 1.9%

NYSE TGNA traded down $0.33 during trading hours on Friday, hitting $17.11. 984,022 shares of the company traded hands, compared to its average volume of 1,834,012. The business's 50-day moving average is $16.86 and its 200-day moving average is $17.35. TEGNA Inc. has a twelve month low of $13.37 and a twelve month high of $19.62. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 6.02 and a beta of 0.30.

TEGNA (NYSE:TGNA - Get Free Report) last issued 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 return on equity of 17.13% and a net margin of 15.29%. The firm had revenue of $680.05 million during the quarter, compared to analysts' expectations of $677.24 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The business's quarterly revenue was down 4.8% compared to the same quarter last year. Sell-side analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.50 annualized dividend and a yield of 2.92%. TEGNA's dividend payout ratio (DPR) is presently 17.61%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TGNA. 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. Wells Fargo & Company decreased their price objective on TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Guggenheim decreased their price objective on TEGNA from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, July 2nd. Finally, 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, TEGNA has an average rating of "Moderate Buy" and a consensus target price of $20.00.

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.