Confluence Wealth Services Inc. Buys 538 Shares of The New York Times Company (NYSE:NYT)

Confluence Wealth Services Inc. grew its stake in The New York Times Company (NYSE:NYT) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,146 shares of the company’s stock after purchasing an additional 538 shares during the period. Confluence Wealth Services Inc.’s holdings in New York Times were worth $741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Contravisory Investment Management Inc. bought a new stake in New York Times during the 4th quarter worth approximately $27,000. GAMMA Investing LLC bought a new stake in New York Times during the 4th quarter worth approximately $31,000. DekaBank Deutsche Girozentrale bought a new stake in New York Times during the 3rd quarter worth approximately $37,000. TFO Wealth Partners LLC boosted its position in New York Times by 84,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock valued at $124,000 after buying an additional 2,521 shares during the last quarter. Finally, Covestor Ltd boosted its position in New York Times by 9.6% in the 3rd quarter. Covestor Ltd now owns 2,659 shares of the company’s stock valued at $110,000 after buying an additional 232 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of New York Times stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the transaction, the chief executive officer now owns 90,759 shares in the company, valued at $4,003,379.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David S. Perpich sold 3,014 shares of New York Times stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total transaction of $132,706.42. Following the completion of the transaction, the director now owns 20,813 shares in the company, valued at $916,396.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $44.11, for a total value of $597,381.73. Following the sale, the chief executive officer now owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The disclosure for this sale can be found here. Insiders sold 23,557 shares of company stock worth $1,029,968 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

NYT has been the topic of a number of recent research reports. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Monday, March 4th. Finally, Citigroup started coverage on New York Times in a research note on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.67.

New York Times Price Performance

Shares of NYT traded down $0.61 during midday trading on Tuesday, hitting $43.05. The stock had a trading volume of 1,271,058 shares, compared to its average volume of 1,264,230. The company has a 50 day simple moving average of $43.26 and a two-hundred day simple moving average of $44.78. The New York Times Company has a twelve month low of $35.06 and a twelve month high of $49.87. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 30.97 and a beta of 1.01.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.10. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The firm had revenue of $676.20 million for the quarter, compared to the consensus estimate of $680.02 million. During the same quarter last year, the business posted $0.65 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts forecast that The New York Times Company will post 1.64 EPS for the current fiscal year.

New York Times Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd were issued a $0.13 dividend. This is a boost from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.52 annualized dividend and a dividend yield of 1.21%. New York Times’s dividend payout ratio (DPR) is presently 37.41%.

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.