The New York Times Company (NYSE:NYT) Stock Holdings Cut by Weybosset Research & Management LLC

Weybosset Research & Management LLC reduced its stake in The New York Times Company (NYSE:NYT) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 217,231 shares of the company’s stock after selling 2,009 shares during the quarter. New York Times accounts for 4.1% of Weybosset Research & Management LLC’s investment portfolio, making the stock its 10th largest position. Weybosset Research & Management LLC’s holdings in New York Times were worth $12,093,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 792 shares during the period. Signaturefd LLC boosted its holdings in New York Times by 34.2% during the 2nd 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 period. Blue Trust Inc. grew its position in New York Times by 401.8% in the 2nd 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 increased its stake in New York Times by 84,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after purchasing an additional 2,521 shares during the period. Finally, Bailard Inc. acquired a new stake in shares of New York Times during the second quarter worth about $205,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NYT. Barclays increased their target price on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

New York Times Stock Performance

NYSE:NYT opened at $55.51 on Thursday. The New York Times Company has a 1 year low of $39.73 and a 1 year high of $56.49. The stock has a market cap of $9.12 billion, a P/E ratio of 37.01 and a beta of 1.03. The stock has a 50-day simple moving average of $54.18 and a 200-day simple moving average of $50.06.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 earnings per share. On average, equities research analysts predict that The New York Times Company will post 1.9 EPS for the current year.

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is 34.67%.

Insider Buying and Selling

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now owns 101,772 shares in the company, valued at $5,487,546.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other New York Times news, CFO William Bardeen sold 2,000 shares of the stock in a transaction that occurred 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 directly owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total value 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 approximately $5,487,546.24. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

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.