Yousif Capital Management LLC Cuts Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Yousif Capital Management LLC cut its position in shares of TEGNA Inc. (NYSE:TGNA) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,994 shares of the company’s stock after selling 1,521 shares during the period. Yousif Capital Management LLC’s holdings in TEGNA were worth $1,225,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in TEGNA in the third quarter valued at approximately $28,000. GAMMA Investing LLC grew its stake in TEGNA by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after acquiring an additional 757 shares during the period. Sound Income Strategies LLC acquired a new stake in TEGNA in the 4th quarter valued at $57,000. Quarry LP increased its holdings in TEGNA by 455.2% in the 3rd quarter. Quarry LP now owns 4,025 shares of the company’s stock worth $64,000 after acquiring an additional 3,300 shares in the last quarter. Finally, US Bancorp DE raised its position in TEGNA by 20.4% during the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after acquiring an additional 764 shares during the period. 92.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on TGNA shares. JPMorgan Chase & Co. lifted their target price on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Guggenheim reiterated a “buy” rating and issued a $22.00 price objective on shares of TEGNA in a report on Friday, January 24th. Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. StockNews.com upgraded TEGNA from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. Finally, Benchmark raised their price objective on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TEGNA currently has an average rating of “Moderate Buy” and an average target price of $21.75.

TEGNA Trading Up 0.1 %

Shares of TEGNA stock opened at $18.15 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The stock’s 50 day simple moving average is $18.31 and its 200-day simple moving average is $16.68. The stock has a market cap of $2.92 billion, a P/E ratio of 6.41 and a beta of 0.52. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA’s dividend payout ratio (DPR) is currently 17.67%.

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.