Capital Investment Counsel Inc Grows Position in The New York Times Company (NYSE:NYT)

Capital Investment Counsel Inc raised its holdings in The New York Times Company (NYSE:NYT) by 1.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,701 shares of the company’s stock after acquiring an additional 380 shares during the quarter. Capital Investment Counsel Inc’s holdings in New York Times were worth $1,163,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in New York Times by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 15,809,453 shares of the company’s stock valued at $774,505,000 after purchasing an additional 80,075 shares in the last quarter. Farallon Capital Management LLC increased its position in shares of New York Times by 18.1% in the first quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after buying an additional 1,711,268 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of New York Times by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company’s stock worth $146,844,000 after buying an additional 406,958 shares during the last quarter. Norges Bank purchased a new stake in shares of New York Times in the 4th quarter worth about $89,754,000. Finally, Charles Schwab Investment Management Inc. grew its stake in New York Times by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,800,927 shares of the company’s stock valued at $88,227,000 after acquiring an additional 31,213 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NYT. Evercore ISI lifted their target price on shares of New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. lifted their price objective on New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Barclays increased their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

Insider Transactions at New York Times

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total value of $986,736.00. Following the transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at approximately $5,487,546.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the transaction, the chief financial officer now directly owns 10,315 shares in the company, valued at $562,786.40. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

New York Times Stock Down 0.6 %

Shares of NYT traded down $0.31 on Tuesday, hitting $54.68. 539,489 shares of the stock traded hands, compared to its average volume of 1,188,812. The New York Times Company has a 1 year low of $39.73 and a 1 year high of $56.49. The stock’s 50 day moving average is $52.52 and its two-hundred day moving average is $47.81. The firm has a market capitalization of $8.98 billion, a P/E ratio of 36.45 and a beta of 1.06.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $624.82 million. New York Times had a return on equity of 17.33% and a net margin of 10.19%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. Research analysts forecast that The New York Times Company will post 1.77 EPS for the current year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Tuesday, July 9th. New York Times’s dividend payout ratio is currently 34.67%.

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.