Oppenheimer Asset Management Inc. Sells 962 Shares of The New York Times Company (NYSE:NYT)

Oppenheimer Asset Management Inc. reduced its stake in The New York Times Company (NYSE:NYT) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,353 shares of the company’s stock after selling 962 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in New York Times were worth $632,000 at the end of the most recent reporting period.

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

New York Times Trading Down 0.7 %

Shares of NYSE NYT opened at $52.13 on Wednesday. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 1.66 and a beta of 1.02. The New York Times Company has a one year low of $41.55 and a one year high of $57.08. The business has a fifty day simple moving average of $54.84 and a 200 day simple moving average of $52.86.

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, beating analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. On average, research analysts anticipate that The New York Times Company will post 1.84 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is 30.77%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Barclays increased their price objective on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.83.

New York Times Company 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.