TEGNA Inc. $TGNA Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in TEGNA Inc. by 3.7%, now holding approximately 15.45% of the company, worth about $452.5 million.
• TEGNA reported earnings of $0.44 EPS for the last quarter, exceeding analysts' expectations, but a 5% year-over-year revenue decrease was noted.
• The company recently announced a quarterly dividend of $0.125 per share, representing an annual yield of 2.4%.

Vanguard Group Inc. cut its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,836,838 shares of the company's stock after selling 954,060 shares during the quarter. Vanguard Group Inc. owned approximately 15.45% of TEGNA worth $452,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of TEGNA by 9.5% in the fourth quarter. Wells Fargo & Company MN now owns 223,654 shares of the company's stock worth $4,091,000 after purchasing an additional 19,453 shares during the last quarter. Bank of Montreal Can lifted its stake in TEGNA by 5.4% in the fourth quarter. Bank of Montreal Can now owns 33,424 shares of the company's stock worth $611,000 after acquiring an additional 1,706 shares during the period. Invesco Ltd. lifted its stake in TEGNA by 14.6% in the fourth quarter. Invesco Ltd. now owns 866,076 shares of the company's stock worth $15,841,000 after acquiring an additional 110,646 shares during the period. Raymond James Financial Inc. purchased a new position in TEGNA during the fourth quarter valued at $2,375,000. Finally, Sterling Capital Management LLC lifted its position in TEGNA by 801.0% during the fourth quarter. Sterling Capital Management LLC now owns 5,217 shares of the company's stock valued at $95,000 after buying an additional 4,638 shares during the period. 92.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Benchmark reduced their price target on TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. cut their price target on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Guggenheim cut their price objective on TEGNA from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $22.00 price target (up from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, TEGNA presently has a consensus rating of "Moderate Buy" and an average target price of $20.25.

TEGNA Stock Performance

Shares of NYSE:TGNA traded up $0.8150 during trading on Tuesday, hitting $20.9950. The stock had a trading volume of 24,537,357 shares, compared to its average volume of 1,840,520. TEGNA Inc. has a 12-month low of $13.44 and a 12-month high of $21.15. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 7.55 and a beta of 0.28. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. The stock has a 50-day simple moving average of $17.19 and a two-hundred day simple moving average of $17.21.

TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $675.05 million for the quarter, compared to analyst estimates of $673.92 million. During the same period 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. On average, equities research analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

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.