Hall Laurie J Trustee Sells 450 Shares of The New York Times Company (NYSE:NYT)

Hall Laurie J Trustee decreased its holdings in The New York Times Company (NYSE:NYT) by 0.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 74,410 shares of the company’s stock after selling 450 shares during the quarter. New York Times comprises approximately 1.3% of Hall Laurie J Trustee’s holdings, making the stock its 25th largest position. Hall Laurie J Trustee’s holdings in New York Times were worth $3,811,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NYT. LGT Group Foundation grew its position in New York Times by 43.8% during the 4th quarter. LGT Group Foundation now owns 903,097 shares of the company’s stock worth $43,827,000 after acquiring an additional 275,212 shares during the last quarter. Janus Henderson Group PLC raised its stake in New York Times by 72.9% during the 1st quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock worth $5,308,000 after buying an additional 51,801 shares during the period. Cullinan Associates Inc. raised its stake in New York Times by 10.3% during the 1st quarter. Cullinan Associates Inc. now owns 195,593 shares of the company’s stock worth $8,454,000 after buying an additional 18,337 shares during the period. Allianz Asset Management GmbH raised its stake in New York Times by 3,368.3% during the 4th quarter. Allianz Asset Management GmbH now owns 181,981 shares of the company’s stock worth $8,915,000 after buying an additional 176,734 shares during the period. Finally, Entropy Technologies LP bought a new stake in New York Times during the 1st quarter worth approximately $473,000. Institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

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

New York Times Stock Performance

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 company has a market capitalization of $8.98 billion, a PE ratio of 36.45 and a beta of 1.06. The business has a 50 day simple moving average of $52.43 and a 200 day simple moving average of $47.77. The New York Times Company has a one year low of $39.73 and a one year high of $56.49.

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

New York Times Announces Dividend

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

Insiders Place Their Bets

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

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.