The New York Times Company (NYSE:NYT) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its holdings in shares of The New York Times Company (NYSE:NYT) by 1.9% in the third quarter, Holdings Channel reports. The firm owned 16,762 shares of the company’s stock after selling 332 shares during the period. HighTower Advisors LLC’s holdings in New York Times were worth $950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. raised its stake in shares of New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares during the period. Signaturefd LLC lifted its stake in New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after purchasing an additional 432 shares in the last quarter. Blue Trust Inc. boosted its position in shares of New York Times by 401.8% during the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after buying an additional 1,800 shares during the period. GAMMA Investing LLC grew its stake in shares of New York Times by 49.7% in the third quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock valued at $117,000 after buying an additional 698 shares in the last quarter. Finally, Paladin Wealth LLC purchased a new stake in shares of New York Times in the 3rd quarter valued at $172,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Price Performance

NYSE:NYT opened at $54.60 on Wednesday. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $58.16. The firm has a market capitalization of $8.95 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. The business’s fifty day moving average price is $54.82 and its 200 day moving average price is $53.73.

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

New York Times Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus 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.