S. Muoio & CO. LLC boosted its holdings in shares of Tribune (NYSE:TRCO) by 31.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 310,000 shares of the company’s stock after purchasing an additional 73,400 shares during the quarter. Tribune comprises 5.3% of S. Muoio & CO. LLC’s portfolio, making the stock its 3rd biggest holding. S. Muoio & CO. LLC’s holdings in Tribune were worth $11,914,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Public Employees Retirement System of Ohio grew its holdings in Tribune by 4.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 35,818 shares of the company’s stock valued at $1,371,000 after buying an additional 1,502 shares in the last quarter. Standard Life Aberdeen plc purchased a new position in Tribune during the 2nd quarter valued at approximately $267,000. Gabelli Funds LLC grew its holdings in Tribune by 20.8% during the 2nd quarter. Gabelli Funds LLC now owns 1,038,418 shares of the company’s stock valued at $39,740,000 after buying an additional 178,962 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Tribune by 8.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 443,011 shares of the company’s stock valued at $16,955,000 after buying an additional 33,355 shares in the last quarter. Finally, James Investment Research Inc. purchased a new position in Tribune during the 3rd quarter valued at approximately $2,269,000. 95.24% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on the company. ValuEngine cut Tribune from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Zacks Investment Research cut Tribune from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 16th. Evercore ISI assumed coverage on Tribune in a report on Tuesday, July 31st. They set a “buy” rating and a $40.00 price target for the company. Stephens cut Tribune from an “overweight” rating to an “equal” rating and cut their price target for the company from $41.00 to $37.00 in a report on Thursday, July 19th. Finally, Wells Fargo & Co cut their price target on Tribune from $42.00 to $36.00 and set a “market perform” rating for the company in a report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Tribune currently has a consensus rating of “Hold” and an average price target of $40.20.
Shares of Tribune stock traded up $0.24 on Wednesday, reaching $39.02. The company had a trading volume of 59,337 shares, compared to its average volume of 1,232,893. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 27.67 and a beta of 1.06. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.24 and a current ratio of 3.35. Tribune has a 1 year low of $31.61 and a 1 year high of $43.71.
Tribune (NYSE:TRCO) last announced its earnings results on Friday, November 9th. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. The firm had revenue of $498.00 million during the quarter, compared to analysts’ expectations of $481.79 million. Tribune had a return on equity of 7.72% and a net margin of 31.69%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. Sell-side analysts predict that Tribune will post 3.1 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Monday, November 19th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Friday, November 16th. Tribune’s dividend payout ratio (DPR) is 70.92%.
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Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, MY television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network.
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