Jupiter Asset Management Ltd. Decreases Stake in The New York Times Company (NYSE:NYT)

Jupiter Asset Management Ltd. lessened its stake in shares of The New York Times Company (NYSE:NYT) by 87.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 123,863 shares of the company’s stock after selling 857,953 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.08% of New York Times worth $6,343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in New York Times by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 15,809,453 shares of the company’s stock worth $774,505,000 after acquiring an additional 80,075 shares during the last quarter. Farallon Capital Management LLC increased its holdings in New York Times by 18.1% during the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after purchasing an additional 1,711,268 shares during the period. Franklin Resources Inc. increased its holdings in New York Times by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company’s stock valued at $146,844,000 after purchasing an additional 406,958 shares during the period. Norges Bank bought a new position in New York Times during the 4th quarter valued at approximately $89,754,000. Finally, Bank of New York Mellon Corp lifted its holdings in New York Times by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,660,015 shares of the company’s stock worth $85,009,000 after buying an additional 19,196 shares during the period. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays upped their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Insider Activity

In related news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the transaction, the chief financial officer now owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the transaction, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William Bardeen sold 2,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $54.56, for a total transaction of $109,120.00. Following the sale, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

New York Times Stock Up 1.5 %

Shares of NYT stock opened at $53.54 on Friday. The business’s fifty day moving average is $53.70 and its 200 day moving average is $48.97. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 35.69 and a beta of 1.03. The New York Times Company has a twelve month low of $39.73 and a twelve month high of $56.49.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The firm had revenue of $625.00 million for the quarter, compared to the consensus estimate of $624.82 million. During the same period in the prior year, the firm earned $0.38 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that The New York Times Company will post 1.9 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Tuesday, July 9th. New York Times’s dividend payout ratio is 34.67%.

New York Times Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company's mobile application, website, printed newspaper, and associated content, such as podcast.