6,788 Shares in The New York Times Company $NYT Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new position in shares of The New York Times Company (NYSE:NYT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,788 shares of the company's stock, valued at approximately $380,000.

Other large investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in New York Times by 690.7% in the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company's stock worth $42,000 after buying an additional 739 shares during the period. WPG Advisers LLC acquired a new stake in New York Times in the first quarter worth $60,000. UMB Bank n.a. increased its position in New York Times by 79.3% in the second quarter. UMB Bank n.a. now owns 1,675 shares of the company's stock worth $94,000 after buying an additional 741 shares during the period. Bartlett & CO. Wealth Management LLC acquired a new stake in New York Times in the first quarter worth $99,000. Finally, Meeder Asset Management Inc. acquired a new stake in New York Times in the first quarter worth $115,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Jacqueline M. Welch sold 5,500 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the completion of the transaction, the executive vice president owned 14,470 shares of the company's stock, valued at $868,778.80. This trade represents a 27.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William Bardeen sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total value of $290,200.00. Following the transaction, the executive vice president directly owned 11,243 shares of the company's stock, valued at $652,543.72. This represents a 30.78% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

NYT has been the topic of several analyst reports. Morgan Stanley increased their target price on New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of New York Times in a research report on Wednesday, October 8th. Evercore ISI increased their target price on New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Barclays set a $52.00 price target on New York Times and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, Zacks Research lowered New York Times from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, New York Times has a consensus rating of "Moderate Buy" and an average price target of $60.33.

New York Times Stock Up 1.0%

Shares of NYT stock opened at $56.23 on Friday. The stock has a 50-day simple moving average of $57.96 and a 200 day simple moving average of $55.04. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $62.24. The stock has a market capitalization of $9.15 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.42 and a beta of 1.16.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The business had revenue of $685.90 million during the quarter, compared to analysts' expectations of $670.22 million. During the same quarter last year, the business posted $0.45 earnings per share. The company's quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.72 annualized dividend and a yield of 1.3%. New York Times's dividend payout ratio (DPR) is currently 37.11%.

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.

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