TEGNA Inc. $TGNA Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC has decreased its stake in TEGNA Inc. by 32.8%, now holding about 0.58% of the company valued at approximately $16.86 million.
• TEGNA's most recent earnings report showed an EPS of $0.44, surpassing the consensus estimate of $0.38, although revenue declined by 5.0% year-over-year.
• The company declared a quarterly dividend of $0.125 per share, yielding 2.4%, with the ex-dividend date on September 5th.

AQR Capital Management LLC decreased its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 32.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 931,973 shares of the company's stock after selling 454,041 shares during the quarter. AQR Capital Management LLC owned 0.58% of TEGNA worth $16,859,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Neo Ivy Capital Management acquired a new stake in shares of TEGNA during the fourth quarter worth about $28,000. Tower Research Capital LLC TRC lifted its holdings in shares of TEGNA by 80.2% during 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 period. GAMMA Investing LLC lifted its holdings in shares of TEGNA by 53.3% during 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 period. Amundi lifted its holdings in shares of TEGNA by 1,507.5% during the first quarter. Amundi now owns 4,067 shares of the company's stock worth $74,000 after purchasing an additional 3,814 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of TEGNA by 26.0% during 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 period. Institutional investors and hedge funds own 92.19% of the company's stock.

TEGNA Price Performance

Shares of TEGNA stock traded up $0.05 on Monday, reaching $21.10. The company's stock had a trading volume of 1,615,357 shares, compared to its average volume of 4,612,165. The company has a market capitalization of $3.39 billion, a P/E ratio of 7.59 and a beta of 0.28. TEGNA Inc. has a 52-week low of $14.26 and a 52-week high of $21.35. The stock has a 50-day moving average price of $18.91 and a 200-day moving average price of $17.64. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82.

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

TEGNA Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on TGNA shares. Guggenheim reaffirmed a "neutral" rating and set a $19.00 target price on shares of TEGNA in a report on Friday, August 22nd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $22.00 target price (up previously from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Finally, JPMorgan Chase & Co. decreased their target price 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 Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

About TEGNA

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.