Cypress Capital LLC Has $591,000 Stake in TEGNA Inc. $TGNA

Cypress Capital LLC trimmed its stake in TEGNA Inc. (NYSE:TGNA) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,254 shares of the company’s stock after selling 2,678 shares during the period. Cypress Capital LLC’s holdings in TEGNA were worth $591,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of TEGNA in the 2nd quarter valued at $38,000. Caitong International Asset Management Co. Ltd boosted its position in TEGNA by 1,018.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,997 shares of the company’s stock valued at $50,000 after buying an additional 2,729 shares in the last quarter. TD Private Client Wealth LLC boosted its position in TEGNA by 13,896.4% in the second quarter. TD Private Client Wealth LLC now owns 3,919 shares of the company’s stock valued at $66,000 after buying an additional 3,891 shares in the last quarter. Amundi grew its stake in TEGNA by 1,507.5% during the first quarter. Amundi now owns 4,067 shares of the company’s stock worth $74,000 after buying an additional 3,814 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of TEGNA during the first quarter worth approximately $86,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Stock Up 0.6%

Shares of TGNA opened at $19.96 on Monday. The business’s fifty day moving average price is $20.38 and its two-hundred day moving average price is $18.45. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 7.18 and a beta of 0.25. TEGNA Inc. has a 52 week low of $14.87 and a 52 week high of $21.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47.

TEGNA (NYSE:TGNA) last released its earnings results on Thursday, August 7th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The company had revenue of $675.05 million during the quarter, compared to the consensus estimate of $673.92 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. On average, analysts predict that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, September 5th. TEGNA’s dividend payout ratio (DPR) is presently 17.99%.

Analyst Ratings Changes

TGNA has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of TEGNA in a report on Wednesday, October 8th. Wells Fargo & Company cut TEGNA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Guggenheim reaffirmed a “neutral” rating and issued a $19.00 price target on shares of TEGNA in a report on Friday, August 22nd. Finally, Zacks Research downgraded shares of TEGNA from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.75.

About TEGNA

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.