Argus Investors Counsel Inc. Takes Position in The New York Times Company $NYT

Key Points

• Argus Investors Counsel Inc. opened a new position in The New York Times Company during the first quarter, buying 18,327 shares valued at about $1.535 million. The stake now represents roughly 1.4% of the firm’s portfolio.
• Institutional ownership remains very high, with 95.37% of NYT shares held by institutional investors and hedge funds. Several other institutions also added modestly to their NYT positions in recent filings.
• Recent insider activity has leaned toward selling: EVP William Bardeen and EVP Jacqueline M. Welch both sold shares, and insiders sold 17,121 shares total over the last 90 days. Meanwhile, analysts currently rate NYT Moderate Buy on consensus, with a target price of about $83.22.

Argus Investors Counsel Inc. purchased a new position in The New York Times Company (NYSE:NYT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 18,327 shares of the company's stock, valued at approximately $1,535,000. New York Times comprises approximately 1.4% of Argus Investors Counsel Inc.'s investment portfolio, making the stock its 24th largest position.

A number of other institutional investors have also made changes to their positions in NYT. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of New York Times by 4.2% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,366 shares of the company's stock valued at $282,000 after purchasing an additional 135 shares during the period. Andina Capital Management LLC raised its holdings in New York Times by 1.7% during the 4th quarter. Andina Capital Management LLC now owns 8,814 shares of the company's stock worth $612,000 after buying an additional 147 shares during the period. Jackson Thornton Wealth Management LLC lifted its stake in New York Times by 3.5% in the fourth quarter. Jackson Thornton Wealth Management LLC now owns 4,355 shares of the company's stock valued at $302,000 after buying an additional 148 shares in the last quarter. Brown Advisory Inc. lifted its stake in New York Times by 1.1% in the fourth quarter. Brown Advisory Inc. now owns 17,944 shares of the company's stock valued at $1,246,000 after buying an additional 189 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of New York Times by 74.2% in the fourth quarter. Cornerstone Planning Group LLC now owns 446 shares of the company's stock valued at $32,000 after buying an additional 190 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP William Bardeen sold 4,121 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $77.85, for a total value of $320,819.85. Following the completion of the transaction, the executive vice president directly owned 14,560 shares of the company's stock, valued at approximately $1,133,496. This trade represents a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jacqueline M. Welch sold 4,000 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total transaction of $296,560.00. Following the transaction, the executive vice president owned 23,873 shares in the company, valued at approximately $1,769,944.22. The trade was a 14.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 17,121 shares of company stock valued at $1,310,920. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NYT. Morgan Stanley set a $90.00 price objective on shares of New York Times in a report on Thursday, May 7th. Citigroup reaffirmed a "neutral" rating on shares of New York Times in a research note on Wednesday, June 24th. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. JPMorgan Chase & Co. lifted their price target on New York Times from $74.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $95.00 price target on shares of New York Times in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, New York Times presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.22.

Key New York Times News

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: A new bullish thesis highlighted The New York Times Company as a potentially attractive stock, pointing to its forward P/E and defensive profile as reasons investors may still want exposure. Is The New York Times Company (NYT) A Good Stock To Buy Now?
• Positive Sentiment: Zacks also named NYT among “safe picks” as consumer confidence improved but broader economic concerns remained, reinforcing the view that the company can appeal to investors looking for stability in uncertain markets. Consumer Confidence Improves but Economic Woes Continue: 4 Safe Picks
• Neutral Sentiment: Most of the other recent articles were standard New York Times newsroom and Athletic coverage, including politics, weather, sports, and feature stories, which are unlikely to materially move the stock on their own.
• Negative Sentiment: There is no major company-specific operational news in the latest batch, so the stock may also be constrained by the fact that it remains below key recent price levels and has not yet shown a strong fundamental catalyst.

New York Times Trading Up 0.0%

New York Times stock opened at $73.87 on Friday. The New York Times Company has a 1-year low of $51.03 and a 1-year high of $87.10. The company has a fifty day simple moving average of $75.25 and a 200 day simple moving average of $75.61. The company has a market cap of $11.96 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96.

New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.49 by $0.12. The firm had revenue of $712.24 million for the quarter, compared to analysts' expectations of $699.93 million. New York Times had a net margin of 13.18% and a return on equity of 22.02%. The company's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. On average, equities research analysts forecast that The New York Times Company will post 2.93 EPS for the current year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Wednesday, July 8th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, July 8th. New York Times's dividend payout ratio is presently 39.48%.

New York Times Profile

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

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