Copeland Capital Management LLC Sells 20,158 Shares of Nexstar Media Group, Inc. $NXST

Copeland Capital Management LLC lessened its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 376,621 shares of the company’s stock after selling 20,158 shares during the quarter. Nexstar Media Group comprises about 1.7% of Copeland Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Copeland Capital Management LLC owned about 1.24% of Nexstar Media Group worth $76,473,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NXST. Dorsal Capital Management LP acquired a new stake in Nexstar Media Group during the 3rd quarter valued at $74,152,000. AQR Capital Management LLC grew its holdings in Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after buying an additional 294,308 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Nexstar Media Group by 157.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after buying an additional 228,603 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Nexstar Media Group during the 3rd quarter valued at $40,023,000. Finally, Principal Financial Group Inc. grew its holdings in Nexstar Media Group by 63.0% during the 3rd quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock valued at $96,557,000 after buying an additional 188,695 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

NXST stock opened at $204.82 on Friday. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $254.30. The stock’s fifty day simple moving average is $218.44 and its 200-day simple moving average is $207.53. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 69.67, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $1.86 per share. The ex-dividend date was Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.6%. Nexstar Media Group’s dividend payout ratio (DPR) is 253.06%.

Analysts Set New Price Targets

NXST has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Nexstar Media Group from $250.00 to $270.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Barrington Research reiterated an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, March 3rd. Wells Fargo & Company increased their target price on Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $252.00 to $220.00 in a report on Friday, April 10th. Finally, Benchmark decreased their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $268.33.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.