Independent Franchise Partners LLP Cuts Stock Position in The New York Times Company (NYSE:NYT)

Independent Franchise Partners LLP trimmed its stake in shares of The New York Times Company (NYSE:NYT) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 697,339 shares of the company’s stock after selling 17,246 shares during the period. New York Times accounts for 0.3% of Independent Franchise Partners LLP’s holdings, making the stock its 24th biggest position. Independent Franchise Partners LLP owned about 0.42% of New York Times worth $35,711,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its stake in 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 raised its holdings in shares of New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after acquiring an additional 432 shares during the last quarter. Blue Trust Inc. lifted its position in shares of New York Times by 401.8% in 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. TFO Wealth Partners LLC boosted its stake in shares of New York Times by 84,033.3% in the fourth quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after acquiring an additional 2,521 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in shares of New York Times during the second quarter worth approximately $205,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Barclays boosted their price target on shares of 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.67.

New York Times Trading Down 0.1 %

Shares of NYT stock opened at $54.49 on Friday. The New York Times Company has a twelve month low of $39.73 and a twelve month high of $56.49. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 36.33 and a beta of 1.03. The company’s 50-day moving average price is $53.95 and its 200-day moving average price is $49.41.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $624.82 million. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. As a group, equities research analysts predict that The New York Times Company will post 1.9 EPS for the current year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.52 annualized dividend and a yield of 0.95%. New York Times’s dividend payout ratio (DPR) is currently 34.67%.

Insider Buying and Selling at New York Times

In other New York Times news, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction dated Friday, August 9th. The shares were 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 directly owns 10,315 shares in the company, valued at $562,786.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at $5,487,546.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.