Teacher Retirement System of Texas Has $803,000 Stock Holdings in TEGNA Inc. $TGNA

Teacher Retirement System of Texas trimmed its position in shares of TEGNA Inc. (NYSE:TGNA) by 46.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,503 shares of the company’s stock after selling 34,195 shares during the quarter. Teacher Retirement System of Texas’ holdings in TEGNA were worth $803,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Financial Consulate Inc. bought a new position in TEGNA during the third quarter worth about $29,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of TEGNA during the 2nd quarter valued at about $38,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of TEGNA by 1,018.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,997 shares of the company’s stock valued at $50,000 after purchasing an additional 2,729 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of TEGNA by 81.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,963 shares of the company’s stock valued at $66,000 after purchasing an additional 1,781 shares during the period. Finally, Amundi increased its stake in TEGNA by 1,507.5% during the 1st quarter. Amundi now owns 4,067 shares of the company’s stock worth $74,000 after purchasing an additional 3,814 shares in the last quarter. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Performance

Shares of NYSE TGNA opened at $18.83 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.22 and a current ratio of 2.22. The stock has a 50 day moving average price of $19.25 and a 200 day moving average price of $19.58. The stock has a market capitalization of $3.03 billion, a PE ratio of 8.88 and a beta of 0.15. TEGNA Inc. has a 52 week low of $14.87 and a 52 week high of $21.35.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). TEGNA had a return on equity of 12.50% and a net margin of 11.97%.The company had revenue of $650.79 million for the quarter, compared to the consensus estimate of $658.28 million. During the same quarter in the prior year, the company earned $0.94 EPS. The company’s revenue for the quarter was down 19.3% on a year-over-year basis. Analysts predict that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, December 5th. TEGNA’s dividend payout ratio (DPR) is 23.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TGNA shares. Zacks Research raised shares of TEGNA from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TEGNA in a research report on Monday, December 29th. Finally, Wells Fargo & Company cut TEGNA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, TEGNA presently has an average rating of “Hold” and a consensus target price of $19.75.

TEGNA Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.