Granite Investment Partners LLC Has $7.80 Million Position in The New York Times Company (NYSE:NYT)

Granite Investment Partners LLC trimmed its holdings in shares of The New York Times Company (NYSE:NYT) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,231 shares of the company’s stock after selling 3,245 shares during the period. Granite Investment Partners LLC owned about 0.09% of New York Times worth $7,796,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NYT. Intech Investment Management LLC boosted its position in New York Times by 604.6% during the second quarter. Intech Investment Management LLC now owns 69,835 shares of the company’s stock valued at $3,576,000 after purchasing an additional 59,924 shares during the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of New York Times by 17.2% in the second quarter. Burgundy Asset Management Ltd. now owns 1,184,357 shares of the company’s stock valued at $60,651,000 after buying an additional 174,228 shares in the last quarter. XTX Topco Ltd increased its holdings in New York Times by 57.1% during the second quarter. XTX Topco Ltd now owns 24,436 shares of the company’s stock worth $1,251,000 after buying an additional 8,879 shares during the last quarter. Hsbc Holdings PLC raised its position in New York Times by 171.7% during the second quarter. Hsbc Holdings PLC now owns 29,487 shares of the company’s stock worth $1,510,000 after acquiring an additional 18,635 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in New York Times by 3.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,489 shares of the company’s stock worth $947,000 after acquiring an additional 638 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Insider Transactions at New York Times

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

Analyst Upgrades and Downgrades

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

New York Times Trading Down 0.9 %

NYSE:NYT opened at $54.54 on Friday. The stock has a 50 day simple moving average of $53.91 and a 200 day simple moving average of $49.28. The stock has a market cap of $8.96 billion, a P/E ratio of 36.36 and a beta of 1.03. The New York Times Company has a 1-year low of $39.73 and a 1-year high of $56.49.

New York Times (NYSE:NYT) last posted 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 return on equity of 17.45% and a net margin of 10.81%. The company had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. During the same quarter last year, the firm earned $0.38 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that The New York Times Company will post 1.9 EPS for the current 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 given a dividend of $0.13 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.95%. New York Times’s payout ratio is presently 34.67%.

New York Times Company 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.