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.
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%.
ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece can be accessed at https://www.baseballdailydigest.com/news/2019/05/22/bank-of-montreal-can-has-1-43-million-holdings-in-gannett-co-inc-gci.html.
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.
Featured Story: How do candlesticks reflect price movement?
Want to see what other hedge funds are holding GCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gannett Co Inc (NYSE:GCI).
Receive News & Ratings for Gannett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gannett and related companies with MarketBeat.com's FREE daily email newsletter.