Geode Capital Management LLC Has $38.89 Million Stake in Tribune (TRCO)
Geode Capital Management LLC reduced its position in Tribune (NYSE:TRCO) by 22.6% during the fourth quarter, Holdings Channel reports. The firm owned 856,887 shares of the company’s stock after selling 250,122 shares during the period. Geode Capital Management LLC’s holdings in Tribune were worth $38,885,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Quantamental Technologies LLC bought a new position in Tribune during the fourth quarter worth $64,000. PNC Financial Services Group Inc. boosted its stake in Tribune by 23.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,666 shares of the company’s stock worth $76,000 after acquiring an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tribune by 7.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,517 shares of the company’s stock worth $250,000 after acquiring an additional 402 shares in the last quarter. HRT Financial LLC bought a new position in Tribune during the fourth quarter worth $263,000. Finally, Strs Ohio bought a new position in Tribune during the fourth quarter worth $308,000. 99.66% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research raised shares of Tribune from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Saturday, May 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Tribune has a consensus rating of “Hold” and an average target price of $41.80.
Tribune (NYSE:TRCO) last released its quarterly earnings data on Friday, May 10th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.38. Tribune had a net margin of 19.03% and a return on equity of 9.55%. The firm had revenue of $455.00 million for the quarter, compared to analyst estimates of $446.12 million. During the same period last year, the firm earned $0.51 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts predict that Tribune will post 2.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, May 17th. Tribune’s dividend payout ratio (DPR) is 27.17%.
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Tribune Media Company, through its subsidiaries, operates as a diversified media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, MY television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network.
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