Mutual of America Capital Management LLC Cuts Position in The New York Times Company (NYSE:NYT)

Mutual of America Capital Management LLC trimmed its position in shares of The New York Times Company (NYSE:NYT) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,337 shares of the company’s stock after selling 5,292 shares during the period. Mutual of America Capital Management LLC’s holdings in New York Times were worth $4,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. grew its position in New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of New York Times by 129.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after purchasing an additional 792 shares during the period. Signaturefd LLC increased its position in shares of 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 purchasing an additional 432 shares during the last quarter. Blue Trust Inc. increased its position in shares of New York Times by 401.8% during the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Paladin Wealth LLC purchased a new stake in New York Times during the 3rd quarter valued at $172,000. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NYT has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective 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, November 5th. Barclays increased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on New York Times from $65.00 to $66.00 and gave the company 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 given a buy rating to the company. Based on data from MarketBeat, New York Times has a consensus rating of “Moderate Buy” and a consensus price target of $54.83.

New York Times Stock Performance

New York Times stock opened at $52.00 on Thursday. The company has a market capitalization of $8.53 billion, a PE ratio of 30.85, a P/E/G ratio of 1.66 and a beta of 1.02. The company has a 50 day moving average price of $54.83 and a 200-day moving average price of $52.91. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $57.08.

New York Times (NYSE:NYT) last issued 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. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The business had revenue of $640.20 million during the quarter, compared to analyst estimates of $641.00 million. During the same period in the previous year, the company posted $0.37 EPS. New York Times’s revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that The New York Times Company will post 1.84 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders 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 yield of 1.00%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is 30.77%.

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.