The New York Times Company (NYSE:NYT) Stock Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in The New York Times Company (NYSE:NYT) by 30.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 378,353 shares of the company’s stock after selling 166,004 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of New York Times worth $21,063,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. UMB Bank n.a. boosted its position in New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of New York Times by 129.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after buying an additional 792 shares in the last quarter. Signaturefd LLC increased its holdings in New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after buying an additional 432 shares during the last quarter. Blue Trust Inc. raised its position in New York Times by 401.8% during the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Paladin Wealth LLC acquired a new stake in New York Times in the third quarter valued at approximately $172,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Trading Down 1.3 %

NYSE NYT opened at $54.48 on Thursday. The company has a market cap of $8.95 billion, a P/E ratio of 32.24, a P/E/G ratio of 1.75 and a beta of 1.02. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $57.08. The company has a fifty day simple moving average of $54.84 and a 200 day simple moving average of $52.58.

New York Times (NYSE:NYT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 earnings per share. Equities research analysts forecast that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NYT shares. JPMorgan Chase & Co. raised their price target on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Barclays boosted their price target 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.83.

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.