Crossmark Global Holdings Inc. Boosts Holdings in TEGNA Inc. (NYSE:TGNA)

Crossmark Global Holdings Inc. boosted its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 563,207 shares of the company's stock after buying an additional 40,987 shares during the quarter. Crossmark Global Holdings Inc. owned approximately 0.35% of TEGNA worth $10,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings 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. Smartleaf Asset Management LLC grew its holdings in shares of TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after purchasing an additional 832 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of TEGNA by 26.0% in the first quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock worth $77,000 after purchasing an additional 873 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in TEGNA by 4.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 23,193 shares of the company's stock worth $424,000 after acquiring an additional 910 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in TEGNA by 53.3% in the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $57,000 after acquiring an additional 1,088 shares in the last quarter. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Stock Down 1.9%

TEGNA stock traded down $0.33 on Friday, hitting $17.11. 984,022 shares of the stock traded hands, compared to its average volume of 1,835,031. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.83. The firm has a market cap of $2.75 billion, a P/E ratio of 6.02 and a beta of 0.30. The business's fifty day simple moving average is $16.86 and its 200 day simple moving average is $17.36. TEGNA Inc. has a 1 year low of $13.37 and a 1 year high of $19.62.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. The business had revenue of $680.05 million during the quarter, compared to analyst estimates of $677.24 million. TEGNA had a return on equity of 17.13% and a net margin of 15.29%. The company's revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, sell-side analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on TGNA shares. Wells Fargo & Company cut their price target on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Benchmark cut their price target on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Guggenheim cut their price target on shares of TEGNA from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.00.

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.