Bank of Montreal Can Sells 169,047 Shares of The New York Times Company (NYSE:NYT)

Bank of Montreal Can cut its position in The New York Times Company (NYSE:NYT) by 63.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,032 shares of the company’s stock after selling 169,047 shares during the quarter. Bank of Montreal Can owned 0.06% of New York Times worth $5,368,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NYT. Price T Rowe Associates Inc. MD grew its stake in New York Times by 7.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 93,988 shares of the company’s stock worth $4,063,000 after purchasing an additional 6,776 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in New York Times by 9.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 6,743 shares of the company’s stock worth $278,000 after purchasing an additional 581 shares during the period. Comerica Bank grew its stake in New York Times by 15.6% during the first quarter. Comerica Bank now owns 83,282 shares of the company’s stock worth $3,599,000 after purchasing an additional 11,234 shares during the period. GAMMA Investing LLC grew its stake in New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after purchasing an additional 792 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in New York Times by 6.8% in the second quarter. QRG Capital Management Inc. now owns 10,577 shares of the company’s stock worth $542,000 after acquiring an additional 674 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

New York Times Price Performance

NYSE:NYT opened at $53.94 on Wednesday. The business has a fifty day simple moving average of $54.78 and a two-hundred day simple moving average of $53.35. 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 market capitalization of $8.84 billion, a P/E ratio of 31.92, a P/E/G ratio of 1.72 and a beta of 1.00.

New York Times (NYSE:NYT) last released its earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same period last year, the business posted $0.37 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts anticipate that The New York Times Company will post 1.84 earnings per share for the current year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays increased their price target on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, New York Times has an average rating of “Moderate Buy” and an average target price 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.