TEGNA Inc. (NYSE:TGNA) Shares Purchased by Foster & Motley Inc.

Foster & Motley Inc. raised its stake in shares of TEGNA Inc. (NYSE:TGNA) by 89.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,208 shares of the company’s stock after acquiring an additional 10,477 shares during the period. Foster & Motley Inc.’s holdings in TEGNA were worth $340,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of TEGNA by 190.5% in the third quarter. AQR Capital Management LLC now owns 3,224,755 shares of the company’s stock valued at $46,985,000 after acquiring an additional 2,114,826 shares in the last quarter. Vanguard Group Inc. boosted its holdings in TEGNA by 2.1% during the third quarter. Vanguard Group Inc. now owns 24,582,211 shares of the company’s stock worth $358,163,000 after buying an additional 499,171 shares in the last quarter. Boston Partners increased its holdings in TEGNA by 4.4% in the third quarter. Boston Partners now owns 10,574,902 shares of the company’s stock valued at $154,046,000 after buying an additional 445,464 shares in the last quarter. LSV Asset Management lifted its position in shares of TEGNA by 10.0% during the 3rd quarter. LSV Asset Management now owns 4,668,419 shares of the company’s stock valued at $68,019,000 after acquiring an additional 424,579 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of TEGNA by 152.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 537,092 shares of the company’s stock worth $7,825,000 after acquiring an additional 324,724 shares in the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TGNA has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, March 1st. Wells Fargo & Company dropped their price target on TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, February 9th. Finally, Benchmark decreased their price objective on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 1st.

TEGNA Price Performance

TGNA stock opened at $13.81 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.48 and a current ratio of 2.48. The stock’s 50 day moving average price is $14.25 and its 200 day moving average price is $14.85. The firm has a market cap of $2.43 billion, a P/E ratio of 6.11 and a beta of 0.50. TEGNA Inc. has a 1 year low of $13.18 and a 1 year high of $17.37.

TEGNA (NYSE:TGNA) last announced its earnings results on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.04). The firm had revenue of $725.80 million during the quarter, compared to analyst estimates of $750.78 million. TEGNA had a net margin of 16.38% and a return on equity of 12.41%. The company’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. On average, sell-side analysts expect that TEGNA Inc. will post 3 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.114 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Thursday, March 7th. TEGNA’s payout ratio is 20.35%.

Insider Buying and Selling at TEGNA

In related news, CEO David T. Lougee sold 43,750 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $14.70, for a total value of $643,125.00. Following the completion of the sale, the chief executive officer now directly owns 725,651 shares in the company, valued at $10,667,069.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other TEGNA news, CEO David T. Lougee sold 43,750 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $14.70, for a total transaction of $643,125.00. Following the transaction, the chief executive officer now owns 725,651 shares of the company’s stock, valued at $10,667,069.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David T. Lougee sold 150,000 shares of TEGNA stock in a transaction on Monday, February 5th. The shares were sold at an average price of $15.21, for a total transaction of $2,281,500.00. Following the completion of the transaction, the chief executive officer now owns 636,262 shares in the company, valued at approximately $9,677,545.02. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.

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.