Oppenheimer & Co. Inc. Sells 1,230 Shares of The New York Times Company (NYSE:NYT)

Oppenheimer & Co. Inc. lessened its holdings in shares of The New York Times Company (NYSE:NYT) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,141 shares of the company’s stock after selling 1,230 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in New York Times were worth $1,678,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NYT. Farallon Capital Management LLC raised its holdings in shares of New York Times by 18.1% during the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after purchasing an additional 1,711,268 shares in the last quarter. Darsana Capital Partners LP lifted its position in shares of New York Times by 25.0% in the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after buying an additional 1,250,000 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of New York Times by 19.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after acquiring an additional 482,200 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of New York Times by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock valued at $124,164,000 after acquiring an additional 438,680 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of New York Times by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,660,015 shares of the company’s stock valued at $85,009,000 after acquiring an additional 19,196 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Price Performance

NYSE:NYT opened at $52.46 on Monday. The New York Times Company has a one year low of $41.55 and a one year high of $57.08. The company has a fifty day moving average price of $54.84 and a 200 day moving average price of $52.73. The stock has a market cap of $8.62 billion, a P/E ratio of 31.04, a PEG ratio of 1.66 and a beta of 1.02.

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

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio is presently 30.77%.

Wall Street Analyst Weigh In

NYT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted 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. Finally, Barclays upped their price target on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, New York Times has an average rating of “Moderate Buy” and a consensus 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.