California Public Employees Retirement System increased its stake in shares of Gannett Co., Inc.¿ (NYSE:GCI) by 13.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 621,050 shares of the company’s stock after buying an additional 72,300 shares during the period. California Public Employees Retirement System’s holdings in Gannett Co., Inc.¿ were worth $5,204,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in shares of Gannett Co., Inc.¿ during the fourth quarter valued at $149,000. Comerica Bank boosted its stake in shares of Gannett Co., Inc.¿ by 5.8% in the fourth quarter. Comerica Bank now owns 124,264 shares of the company’s stock valued at $1,210,000 after buying an additional 6,771 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Gannett Co., Inc.¿ by 108.5% in the fourth quarter. Guggenheim Capital LLC now owns 544,287 shares of the company’s stock valued at $5,284,000 after buying an additional 283,270 shares in the last quarter. Norges Bank bought a new stake in shares of Gannett Co., Inc.¿ during the fourth quarter valued at $20,127,000. Finally, Teachers Advisors LLC boosted its stake in shares of Gannett Co., Inc.¿ by 8.6% in the fourth quarter. Teachers Advisors LLC now owns 202,966 shares of the company’s stock valued at $1,971,000 after buying an additional 16,046 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.
Shares of Gannett Co., Inc.¿ (NYSE:GCI) opened at 8.54 on Monday. The firm has a 50-day moving average price of $8.16 and a 200 day moving average price of $8.73. Gannett Co., Inc.¿ has a 12-month low of $7.30 and a 12-month high of $14.42. The stock has a market cap of $970.44 million, a PE ratio of 93.85 and a beta of 0.56.
Gannett Co., Inc.¿ (NYSE:GCI) last announced its earnings results on Tuesday, April 25th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Gannett Co., Inc.¿ had a return on equity of 12.11% and a net margin of 0.33%. The business had revenue of $773.50 million during the quarter, compared to analyst estimates of $767.99 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities research analysts expect that Gannett Co., Inc.¿ will post $1.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 19th. Shareholders of record on Monday, June 5th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, June 1st. This represents a $0.64 annualized dividend and a dividend yield of 7.49%. Gannett Co., Inc.¿’s dividend payout ratio (DPR) is presently 800.00%.
GCI has been the subject of several analyst reports. Zacks Investment Research upgraded Gannett Co., Inc.¿ from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Noble Financial restated a “buy” rating on shares of Gannett Co., Inc.¿ in a report on Sunday, May 14th. ValuEngine cut Gannett Co., Inc.¿ from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. TheStreet upgraded Gannett Co., Inc.¿ from a “d” rating to a “c-” rating in a report on Friday, June 23rd. Finally, BidaskClub upgraded Gannett Co., Inc.¿ from a “hold” rating to a “buy” rating in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $15.33.
About Gannett Co., Inc.¿
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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