Northern Trust Corp Acquires 65,471 Shares of Tribune (NYSE:TRCO)

Northern Trust Corp raised its holdings in Tribune (NYSE:TRCO) by 12.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 583,825 shares of the company’s stock after purchasing an additional 65,471 shares during the period. Northern Trust Corp owned 0.67% of Tribune worth $26,494,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of Tribune by 23.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,666 shares of the company’s stock valued at $76,000 after buying an additional 321 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Tribune by 7.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,517 shares of the company’s stock worth $250,000 after purchasing an additional 402 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Tribune by 1.0% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 97,597 shares of the company’s stock worth $4,429,000 after purchasing an additional 980 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Tribune during the fourth quarter worth approximately $64,000. Finally, Havens Advisors LLC increased its position in Tribune by 1.2% during the fourth quarter. Havens Advisors LLC now owns 124,500 shares of the company’s stock worth $5,650,000 after purchasing an additional 1,500 shares during the last quarter. 95.34% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research raised shares of Tribune from a “hold” rating to a “strong-buy” rating and set a $52.00 price target for the company in a research report on Tuesday, December 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $42.17.

TRCO traded down $0.01 during trading on Friday, hitting $46.18. 775,948 shares of the company’s stock were exchanged, compared to its average volume of 800,779. The company has a market cap of $4.06 billion, a P/E ratio of 12.55, a P/E/G ratio of 2.59 and a beta of 0.57. The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.83. Tribune has a 1 year low of $31.61 and a 1 year high of $46.46.

Tribune (NYSE:TRCO) last announced its earnings results on Friday, March 1st. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.02. The business had revenue of $578.73 million during the quarter, compared to the consensus estimate of $577.59 million. Tribune had a net margin of 20.53% and a return on equity of 9.50%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Research analysts anticipate that Tribune will post 1.92 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were paid a $0.25 dividend. The ex-dividend date was Friday, March 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. Tribune’s dividend payout ratio (DPR) is presently 27.17%.

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About Tribune

Tribune Media Company, through its subsidiaries, operates as a diversified 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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Institutional Ownership by Quarter for Tribune (NYSE:TRCO)

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