Wealth Enhancement Advisory Services LLC Acquires 1,053 Shares of The New York Times Company (NYSE:NYT)

Wealth Enhancement Advisory Services LLC lifted its stake in The New York Times Company (NYSE:NYT) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,226 shares of the company’s stock after purchasing an additional 1,053 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in New York Times were worth $736,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in New York Times by 72.9% in the 1st quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock worth $5,308,000 after acquiring an additional 51,801 shares in the last quarter. Entropy Technologies LP purchased a new position in New York Times during the 1st quarter worth $473,000. Comerica Bank increased its holdings in New York Times by 15.6% during the 1st 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. Russell Investments Group Ltd. raised its position in New York Times by 9.0% during the 1st quarter. Russell Investments Group Ltd. now owns 116,934 shares of the company’s stock valued at $5,054,000 after purchasing an additional 9,609 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of New York Times in the 1st quarter worth $2,293,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on NYT. Deutsche Bank Aktiengesellschaft raised their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Barclays upped 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.43.

Insiders Place Their Bets

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the transaction, the chief executive officer now owns 101,772 shares in the company, valued at $5,487,546.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO William Bardeen sold 2,000 shares of the 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 sale, the chief financial officer now owns 10,315 shares in the company, valued at $562,786.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the transaction, the chief executive officer now owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

New York Times Stock Performance

NYSE:NYT opened at $55.94 on Thursday. The New York Times Company has a fifty-two week low of $41.02 and a fifty-two week high of $57.08. The company’s 50-day simple moving average is $54.76 and its 200-day simple moving average is $52.17. The stock has a market capitalization of $9.19 billion, a P/E ratio of 33.10 and a beta of 1.02.

New York Times (NYSE:NYT) last issued its quarterly 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. The business had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. New York Times had a return on equity of 17.95% and a net margin of 11.04%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. On average, research analysts forecast that The New York Times Company will post 1.83 EPS for the current year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

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.