Foster & Motley Inc. Has $340,000 Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Foster & Motley Inc. grew its holdings in TEGNA Inc. (NYSE:TGNA) by 89.3% in the fourth quarter, HoldingsChannel reports. The fund owned 22,208 shares of the company’s stock after buying an additional 10,477 shares during the period. Foster & Motley Inc.’s holdings in TEGNA were worth $340,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Covestor Ltd grew its holdings in shares of TEGNA by 94.3% during the 3rd quarter. Covestor Ltd now owns 2,741 shares of the company’s stock worth $40,000 after purchasing an additional 1,330 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of TEGNA by 925.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,630 shares of the company’s stock worth $53,000 after acquiring an additional 3,276 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of TEGNA by 34.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 4,474 shares of the company’s stock worth $65,000 after acquiring an additional 1,145 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of TEGNA in the 3rd quarter valued at $97,000. Finally, Signaturefd LLC lifted its position in shares of TEGNA by 437.5% during the 4th quarter. Signaturefd LLC now owns 9,686 shares of the company’s stock worth $148,000 after buying an additional 7,884 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO David T. Lougee sold 150,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $15.21, for a total value of $2,281,500.00. Following the completion of the transaction, the chief executive officer now directly owns 636,262 shares in the company, valued at $9,677,545.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David T. Lougee sold 43,750 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $14.70, for a total transaction of $643,125.00. Following the transaction, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at $10,667,069.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David T. Lougee sold 150,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $15.21, for a total value of $2,281,500.00. Following the completion of the sale, the chief executive officer now directly owns 636,262 shares of the company’s stock, valued at approximately $9,677,545.02. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, March 1st. Benchmark dropped their target price on TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Finally, Wells Fargo & Company lowered their price objective on TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, February 9th.

TEGNA Price Performance

Shares of NYSE:TGNA opened at $13.81 on Thursday. The stock’s fifty day simple moving average is $14.25 and its two-hundred day simple moving average is $14.85. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.14. TEGNA Inc. has a 1-year low of $13.18 and a 1-year high of $17.37. The stock has a market cap of $2.43 billion, a PE ratio of 6.11 and a beta of 0.50.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.04). TEGNA had a return on equity of 12.41% and a net margin of 16.38%. The firm had revenue of $725.80 million during the quarter, compared to the consensus estimate of $750.78 million. During the same period in the previous year, the company posted $0.98 EPS. The company’s revenue for the quarter was down 20.9% compared to the same quarter last year. As a group, analysts forecast that TEGNA Inc. will post 3 EPS for the current fiscal year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a dividend of $0.114 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.46 annualized dividend and a yield of 3.30%. TEGNA’s payout ratio is presently 20.35%.

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.