Rothschild Investment LLC Sells 695 Shares of TEGNA Inc. (NYSE:TGNA)

Rothschild Investment LLC reduced its stake in TEGNA Inc. (NYSE:TGNA) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 24,501 shares of the company’s stock after selling 695 shares during the quarter. Rothschild Investment LLC’s holdings in TEGNA were worth $448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in TEGNA by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after buying an additional 757 shares during the last quarter. US Bancorp DE increased its holdings in shares of TEGNA by 20.4% during the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after acquiring an additional 764 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of TEGNA by 7.4% during the third quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company’s stock valued at $284,000 after acquiring an additional 1,239 shares in the last quarter. Covestor Ltd raised its position in shares of TEGNA by 20.8% in the 3rd quarter. Covestor Ltd now owns 8,852 shares of the company’s stock worth $140,000 after purchasing an additional 1,525 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in TEGNA in the 3rd quarter worth about $28,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $23.00 in a research note on Thursday, December 19th. Guggenheim reissued a “buy” rating and set a $22.00 price target on shares of TEGNA in a research report on Friday, January 24th. StockNews.com raised TEGNA from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. Benchmark increased their target price on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

TEGNA Stock Down 3.1 %

TGNA opened at $16.92 on Wednesday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 5.98 and a beta of 0.52. The firm has a 50 day moving average price of $18.18 and a 200-day moving average price of $16.88. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.96%. TEGNA’s payout ratio is 17.67%.

TEGNA Company Profile

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.