State Street Corp raised its holdings in shares of Gannett Co., Inc. (NYSE:GCI) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,165,173 shares of the company’s stock after purchasing an additional 96,469 shares during the quarter. State Street Corp owned 2.78% of Gannett Co. worth $27,595,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. increased its stake in Gannett Co. by 43,997.2% during the 1st quarter. BlackRock Inc. now owns 14,361,136 shares of the company’s stock valued at $120,348,000 after purchasing an additional 14,328,569 shares in the last quarter. Vanguard Group Inc. increased its stake in Gannett Co. by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,732,518 shares of the company’s stock valued at $93,588,000 after purchasing an additional 439,304 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Gannett Co. by 19.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,109,673 shares of the company’s stock valued at $53,277,000 after purchasing an additional 1,005,908 shares in the last quarter. FMR LLC increased its stake in Gannett Co. by 5.9% during the 2nd quarter. FMR LLC now owns 1,793,801 shares of the company’s stock valued at $15,642,000 after purchasing an additional 99,229 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Gannett Co. by 41.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,563,155 shares of the company’s stock valued at $13,631,000 after purchasing an additional 461,479 shares in the last quarter. Institutional investors and hedge funds own 83.84% of the company’s stock.
A number of analysts have commented on GCI shares. BidaskClub upgraded shares of Gannett Co. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. ValuEngine upgraded shares of Gannett Co. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research lowered shares of Gannett Co. from a “hold” rating to a “strong sell” rating in a research note on Monday, October 9th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy”.
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Shares of Gannett Co., Inc. (NYSE GCI) opened at $10.18 on Monday. Gannett Co., Inc. has a one year low of $7.36 and a one year high of $10.30. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1,137.81, a price-to-earnings ratio of 10.39 and a beta of 0.59.
Gannett Co. (NYSE:GCI) last posted its earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. Gannett Co. had a net margin of 1.43% and a return on equity of 13.25%. The firm had revenue of $744.30 million during the quarter, compared to analyst estimates of $762.97 million. During the same quarter in the prior year, the business posted ($0.21) EPS. The business’s revenue was down 3.6% compared to the same quarter last year. research analysts expect that Gannett Co., Inc. will post 0.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Tuesday, December 12th will be paid a $0.16 dividend. The ex-dividend date is Monday, December 11th. This represents a $0.64 annualized dividend and a dividend yield of 6.29%. Gannett Co.’s payout ratio is 164.11%.
Gannett Co. Company Profile
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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