Meridian Investment Counsel Inc. Has $1.97 Million Position in TEGNA Inc. (NYSE:TGNA)

Meridian Investment Counsel Inc. lessened its position in TEGNA Inc. (NYSE:TGNA) by 7.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 107,833 shares of the company’s stock after selling 9,000 shares during the period. Meridian Investment Counsel Inc. owned about 0.07% of TEGNA worth $1,972,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in TGNA. Jones Financial Companies Lllp acquired a new stake in shares of TEGNA during the fourth quarter worth approximately $27,000. Smartleaf Asset Management LLC grew its position in TEGNA by 95.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock worth $31,000 after acquiring an additional 832 shares during the last quarter. GAMMA Investing LLC increased its holdings in TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after purchasing an additional 757 shares in the last quarter. Sound Income Strategies LLC acquired a new position in TEGNA in the fourth quarter worth $57,000. Finally, Quarry LP grew its holdings in shares of TEGNA by 455.2% during the third quarter. Quarry LP now owns 4,025 shares of the company’s stock worth $64,000 after purchasing an additional 3,300 shares during the last quarter. 92.19% of the stock is owned by institutional investors.

TEGNA Price Performance

Shares of TGNA stock opened at $18.10 on Monday. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 6.39 and a beta of 0.45. TEGNA Inc. has a 12-month low of $12.35 and a 12-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. The firm has a fifty day moving average of $18.03 and a 200-day moving average of $17.55.

TEGNA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA’s dividend payout ratio is currently 14.12%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TGNA. Guggenheim reaffirmed a “buy” rating and issued a $22.00 price target on shares of TEGNA in a report on Friday, January 24th. StockNews.com lowered shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.