Kendall Capital Management Sells 615 Shares of TEGNA Inc. (NYSE:TGNA)

Kendall Capital Management lowered its stake in shares of TEGNA Inc. (NYSE:TGNA) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,312 shares of the company’s stock after selling 615 shares during the quarter. Kendall Capital Management’s holdings in TEGNA were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp acquired a new stake in TEGNA in the fourth quarter worth about $27,000. Harbor Capital Advisors Inc. acquired a new stake in TEGNA in the third quarter worth about $28,000. Smartleaf Asset Management LLC boosted its holdings in TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock worth $31,000 after acquiring an additional 832 shares in the last quarter. GAMMA Investing LLC boosted its holdings in TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after acquiring an additional 757 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in TEGNA in the fourth quarter worth about $57,000. Institutional investors own 92.19% of the company’s stock.

TEGNA Trading Up 0.9 %

Shares of NYSE:TGNA opened at $17.80 on Friday. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 6.29 and a beta of 0.45. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $18.06 and a 200-day moving average price of $17.07.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.81%. The ex-dividend date is Friday, March 7th. TEGNA’s dividend payout ratio is currently 14.12%.

Wall Street Analyst Weigh In

TGNA has been the subject of several recent analyst reports. Guggenheim reissued a “buy” rating and issued a $22.00 price target on shares of TEGNA in a report on Friday, January 24th. StockNews.com downgraded TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $23.00 in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised their price objective on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, TEGNA presently has an average rating of “Moderate Buy” and an average price target of $21.75.

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.