Cwm LLC Sells 3,775 Shares of The New York Times Company (NYSE:NYT)

Cwm LLC decreased its holdings in The New York Times Company (NYSE:NYT) by 8.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,626 shares of the company’s stock after selling 3,775 shares during the period. Cwm LLC’s holdings in New York Times were worth $2,206,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Farallon Capital Management LLC raised its stake in New York Times by 18.1% in the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after acquiring an additional 1,711,268 shares during the period. Darsana Capital Partners LP lifted its stake in shares of New York Times by 25.0% during the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after buying an additional 1,250,000 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in New York Times in the 1st quarter valued at about $42,434,000. Renaissance Technologies LLC boosted its holdings in shares of New York Times by 19.8% during the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after acquiring an additional 482,200 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of New York Times by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock valued at $124,164,000 after purchasing an additional 438,680 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on NYT shares. Barclays increased their price objective on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of New York Times in a research note on Wednesday, October 9th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.71.

Insider Transactions at New York Times

In other New York Times news, CFO William Bardeen sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the transaction, the chief financial officer now directly owns 10,315 shares in the company, valued at approximately $562,786.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the transaction, the chief financial officer now owns 10,315 shares in the company, valued at $562,786.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times 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 in the company, valued at approximately $5,487,546.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

New York Times Stock Performance

Shares of NYT stock opened at $55.92 on Tuesday. The New York Times Company has a fifty-two week low of $39.73 and a fifty-two week high of $56.49. The company has a market cap of $9.19 billion, a PE ratio of 37.28 and a beta of 1.03. The stock’s fifty day moving average price is $54.51 and its two-hundred day moving average price is $50.76.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts predict that The New York Times Company will post 1.9 EPS for the current fiscal year.

New York Times Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.93%. New York Times’s payout ratio is presently 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.