Hall Laurie J Trustee Reduces Stock Position in The New York Times Company (NYSE:NYT)

Hall Laurie J Trustee lessened its position in shares of The New York Times Company (NYSE:NYT) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,410 shares of the company’s stock after selling 450 shares during the quarter. New York Times accounts for 1.3% of Hall Laurie J Trustee’s portfolio, 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 large investors have also added to or reduced their stakes in NYT. GAMMA Investing LLC purchased a new position in New York Times during the fourth quarter worth approximately $31,000. Blue Trust Inc. boosted its position in New York Times by 401.8% during the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after purchasing an additional 1,800 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in shares of New York Times by 84,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock valued at $124,000 after acquiring an additional 2,521 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of New York Times by 15.9% during the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock valued at $161,000 after acquiring an additional 451 shares during the last quarter. Finally, Boston Family Office LLC acquired a new position in shares of New York Times during the fourth quarter valued at approximately $206,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NYT shares. Barclays increased their price target 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. JPMorgan Chase & Co. lifted 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 lifted their price objective on New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, New York Times has a consensus rating of “Moderate Buy” and an average price target of $50.67.

New York Times Trading Down 0.6 %

NYT traded down $0.31 on Tuesday, hitting $54.68. 539,489 shares of the company were exchanged, compared to its average volume of 1,188,812. The New York Times Company has a twelve month low of $39.73 and a twelve month high of $56.49. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 36.45 and a beta of 1.06. The firm has a 50-day moving average price of $52.43 and a two-hundred day moving average price of $47.77.

New York Times (NYSE:NYT) last released 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. New York Times had a return on equity of 17.33% and a net margin of 10.19%. The business had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. During the same period in the prior year, the firm posted $0.38 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts expect that The New York Times Company will post 1.77 EPS for the current year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend 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%.

Insider Activity

In other news, CFO William Bardeen sold 2,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the transaction, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO William Bardeen sold 2,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the transaction, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $5,487,546.24. The disclosure for this sale can be found here. Company 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.