Tribune (NYSE:TRCO) Position Lifted by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can lifted its stake in Tribune (NYSE:TRCO) by 12.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,546 shares of the company’s stock after acquiring an additional 1,238 shares during the period. Great West Life Assurance Co. Can’s holdings in Tribune were worth $531,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Quadrant Capital Group LLC acquired a new stake in Tribune in the 1st quarter valued at approximately $58,000. PNC Financial Services Group Inc. grew its holdings in Tribune by 23.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,666 shares of the company’s stock valued at $76,000 after buying an additional 321 shares during the last quarter. Investors Research Corp acquired a new stake in Tribune in the 1st quarter valued at approximately $134,000. HRT Financial LLC acquired a new stake in Tribune in the 4th quarter valued at approximately $263,000. Finally, Gideon Capital Advisors Inc. acquired a new stake in Tribune in the 4th quarter valued at approximately $316,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised Tribune from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Saturday, May 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $41.80.
Tribune (NYSE:TRCO) last released its earnings results on Friday, May 10th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.38. The firm had revenue of $455.00 million for the quarter, compared to analyst estimates of $446.12 million. Tribune had a return on equity of 9.55% and a net margin of 19.03%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. Research analysts expect that Tribune will post 2.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, May 17th. Tribune’s dividend payout ratio (DPR) is currently 27.17%.
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Tribune Company Profile
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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