Arizona State Retirement System grew its holdings in shares of Gannett Co Inc (NYSE:GCI) by 218.4% in the 4th quarter, Holdings Channel reports. The firm owned 187,844 shares of the company’s stock after purchasing an additional 128,847 shares during the quarter. Arizona State Retirement System’s holdings in Gannett were worth $2,177,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of GCI. Prudential Financial Inc. increased its position in shares of Gannett by 2.4% in the 3rd quarter. Prudential Financial Inc. now owns 897,666 shares of the company’s stock valued at $8,079,000 after acquiring an additional 21,150 shares during the period. JPMorgan Chase & Co. increased its position in shares of Gannett by 158.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,549,481 shares of the company’s stock valued at $13,915,000 after acquiring an additional 949,923 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Gannett in the 3rd quarter valued at $331,000. Schwab Charles Investment Management Inc. increased its position in shares of Gannett by 15.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,797,837 shares of the company’s stock valued at $16,181,000 after acquiring an additional 234,682 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Gannett by 6.4% in the 3rd quarter. California Public Employees Retirement System now owns 671,729 shares of the company’s stock valued at $6,046,000 after acquiring an additional 40,679 shares during the period. Hedge funds and other institutional investors own 88.47% of the company’s stock.
In other Gannett news, CEO Robert J. Dickey sold 19,533 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $10.35, for a total transaction of $202,166.55. Following the sale, the chief executive officer now directly owns 224,986 shares of the company’s stock, valued at approximately $2,328,605.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Barbara W. Wall sold 10,954 shares of the stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $10.43, for a total value of $114,250.22. Following the sale, the senior vice president now directly owns 18,023 shares in the company, valued at $187,979.89. The disclosure for this sale can be found here. Insiders have sold a total of 78,673 shares of company stock worth $804,778 over the last ninety days. 0.74% of the stock is owned by insiders.
Gannett (NYSE:GCI) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.09. The company had revenue of $854.00 million for the quarter, compared to the consensus estimate of $848.74 million. Gannett had a return on equity of 13.29% and a net margin of 0.22%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. equities analysts anticipate that Gannett Co Inc will post 0.94 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Monday, March 12th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend is Friday, March 9th. Gannett’s dividend payout ratio is currently 1,066.67%.
Separately, ValuEngine raised Gannett from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy”.
Gannett Co, Inc is a media company. The Company operates as a newspaper publisher in the United States. As of December 25, 2016, it owned ReachLocal, Inc (ReachLocal), a digital marketing solutions company; the USA TODAY NETWORK (made up of USA TODAY including digital sites and affiliates (USAT) and 109 local media organizations in 34 states in the United States and Guam), and Newsquest Media Group Ltd.
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