Bank of Montreal Can Has $1.43 Million Holdings in Gannett Co Inc (GCI)

Bank of Montreal Can reduced its stake in Gannett Co Inc (NYSE:GCI) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,370 shares of the company’s stock after selling 1,353 shares during the quarter. Bank of Montreal Can’s holdings in Gannett were worth $1,427,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in Gannett by 529.9% in the 4th quarter. Bessemer Group Inc. now owns 3,200 shares of the company’s stock valued at $27,000 after buying an additional 2,692 shares in the last quarter. Investors Research Corp purchased a new stake in Gannett in the 1st quarter valued at $31,000. Oregon Public Employees Retirement Fund purchased a new stake in Gannett in the 4th quarter valued at $43,000. Meeder Asset Management Inc. grew its holdings in Gannett by 85.3% in the 1st quarter. Meeder Asset Management Inc. now owns 6,366 shares of the company’s stock valued at $66,000 after buying an additional 2,930 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Gannett by 33.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,091 shares of the company’s stock valued at $69,000 after buying an additional 2,034 shares in the last quarter. Institutional investors own 97.93% of the company’s stock.

Several analysts have issued reports on the company. Zacks Investment Research cut Gannett from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. ValuEngine cut Gannett from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Gannett has a consensus rating of “Hold” and a consensus target price of $11.67.

Shares of NYSE:GCI opened at $7.91 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $978.00 million, a price-to-earnings ratio of 7.32 and a beta of 1.22. Gannett Co Inc has a 52-week low of $7.84 and a 52-week high of $11.99.

Gannett (NYSE:GCI) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. The business had revenue of $663.40 million during the quarter, compared to analysts’ expectations of $677.85 million. Gannett had a return on equity of 11.24% and a net margin of 0.12%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 EPS. As a group, equities analysts expect that Gannett Co Inc will post 0.59 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.09%. The ex-dividend date of this dividend is Friday, June 7th. Gannett’s dividend payout ratio is presently 59.26%.

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Gannett Company Profile

Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. It offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 150 news brands and 150 magazines in the United Kingdom.

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Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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