The New York Times Company (NYSE:NYT) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in The New York Times Company (NYSE:NYT) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,162 shares of the company’s stock after selling 282 shares during the quarter. Park Avenue Securities LLC’s holdings in New York Times were worth $232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of New York Times by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 15,809,453 shares of the company’s stock valued at $774,505,000 after acquiring an additional 80,075 shares in the last quarter. Farallon Capital Management LLC increased its holdings in shares of 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 boosted its stake in shares of New York Times by 25.0% during the second 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 period. Renaissance Technologies LLC grew its stake in shares of New York Times by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock valued at $149,131,000 after purchasing an additional 482,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings 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 acquiring an additional 438,680 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on NYT. JPMorgan Chase & Co. raised 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 raised 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on New York Times in a research report on Wednesday, October 9th. They set a “buy” rating and a $65.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.71.

Insider Activity at New York Times

In other news, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 10,315 shares in the company, valued at $562,786.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, 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 value of $109,120.00. Following the sale, the chief financial officer now directly 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 legal filing with the SEC, which is available at this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction 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 transaction, the chief executive officer now directly 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. Insiders own 2.00% of the company’s stock.

New York Times Stock Up 0.9 %

Shares of NYSE NYT opened at $55.92 on Tuesday. The business’s 50 day moving average is $54.51 and its two-hundred day moving average is $50.76. The New York Times Company has a 12 month low of $39.73 and a 12 month high of $56.49. The company has a market cap of $9.19 billion, a P/E ratio of 37.28 and a beta of 1.03.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, beating 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 business had revenue of $625.00 million during the quarter, compared to analyst estimates of $624.82 million. During the same period in the prior year, the company posted $0.38 earnings per share. New York Times’s revenue was up 5.8% on a year-over-year basis. Sell-side 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 company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.93%. New York Times’s dividend payout ratio is presently 34.67%.

About New York Times

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.