California State Teachers Retirement System lessened its stake in Tegna Inc (NYSE:TGNA) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 367,066 shares of the company’s stock after selling 28,705 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Tegna worth $4,893,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Tegna by 32.2% during the second quarter. BlackRock Inc. now owns 17,593,214 shares of the company’s stock worth $253,518,000 after acquiring an additional 4,286,497 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Tegna by 0.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 11,177,342 shares of the company’s stock worth $148,994,000 after acquiring an additional 57,105 shares during the period. Fairpointe Capital LLC lifted its holdings in Tegna by 13.3% during the second quarter. Fairpointe Capital LLC now owns 8,478,230 shares of the company’s stock worth $122,171,000 after acquiring an additional 993,543 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Tegna by 126.6% during the second quarter. Artisan Partners Limited Partnership now owns 5,849,357 shares of the company’s stock worth $84,289,000 after acquiring an additional 3,268,362 shares during the period. Finally, Canyon Capital Advisors LLC bought a new stake in Tegna during the second quarter worth $82,306,000. Institutional investors own 99.71% of the company’s stock.

TGNA has been the topic of a number of recent analyst reports. FBR & Co reiterated a “hold” rating and set a $15.00 price target on shares of Tegna in a report on Wednesday, November 1st. ValuEngine raised Tegna from a “buy” rating to a “strong-buy” rating in a research report on Sunday. BidaskClub raised Tegna from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Noble Financial reissued a “buy” rating on shares of Tegna in a research report on Wednesday, October 11th. Finally, Zacks Investment Research raised Tegna from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Tegna presently has an average rating of “Hold” and a consensus price target of $17.88.

In other news, SVP Clifton A. Mcclelland III sold 7,740 shares of Tegna stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $13.69, for a total value of $105,960.60. Following the completion of the transaction, the senior vice president now directly owns 32,335 shares in the company, valued at $442,666.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Todd A. Mayman sold 36,830 shares of Tegna stock in a transaction on Friday, November 10th. The shares were sold at an average price of $12.63, for a total value of $465,162.90. Following the completion of the transaction, the executive vice president now owns 19,420 shares of the company’s stock, valued at $245,274.60. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Shares of Tegna Inc (TGNA) opened at $14.20 on Thursday. The company has a debt-to-equity ratio of 4.30, a current ratio of 1.37 and a quick ratio of 1.37. Tegna Inc has a 52-week low of $11.59 and a 52-week high of $17.08. The stock has a market capitalization of $3,040.00, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 7.25 and a beta of 1.57.

Tegna (NYSE:TGNA) last released its earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. Tegna had a return on equity of 20.50% and a net margin of 11.10%. The business had revenue of $464.26 million during the quarter, compared to the consensus estimate of $463.23 million. During the same period last year, the business posted $0.65 earnings per share. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. equities analysts predict that Tegna Inc will post 1.08 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, December 7th. Tegna’s dividend payout ratio (DPR) is presently 18.06%.

Tegna declared that its Board of Directors has authorized a stock buyback plan on Tuesday, September 19th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 11.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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Tegna Profile

Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.

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Institutional Ownership by Quarter for Tegna (NYSE:TGNA)

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