Boston Trust Walden Corp Has $62.31 Million Holdings in The New York Times Company $NYT

Key Points

• Boston Trust Walden Corp cut its stake in The New York Times Company by 25.4% in the first quarter, selling 253,242 shares. It still held 744,238 shares worth about $62.3 million at quarter-end.
• New York Times reported better-than-expected quarterly results, with EPS of $0.61 versus the $0.49 estimate and revenue of $712.24 million, up 12% year over year. Analysts currently rate the stock Moderate Buy with a consensus price target of $83.22.
• The company also declared a quarterly dividend of $0.23 per share, payable July 23, representing an annualized yield of about 1.2%. Meanwhile, insiders sold shares recently, including director David S. Perpich and EVP William Bardeen.

Boston Trust Walden Corp lessened its position in The New York Times Company (NYSE:NYT - Free Report) by 25.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 744,238 shares of the company's stock after selling 253,242 shares during the quarter. Boston Trust Walden Corp owned about 0.46% of New York Times worth $62,315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Navalign LLC acquired a new position in shares of New York Times during the 4th quarter worth about $25,000. Cornerstone Planning Group LLC grew its holdings in New York Times by 74.2% in the 4th 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 last quarter. International Assets Investment Management LLC bought a new position in New York Times in the 4th quarter worth approximately $32,000. SOA Wealth Advisors LLC. bought a new position in New York Times in the 4th quarter worth approximately $34,000. Finally, SJS Investment Consulting Inc. increased its position in New York Times by 313.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 567 shares of the company's stock worth $47,000 after buying an additional 430 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NYT has been the subject of several research reports. UBS Group set a $80.00 price objective on New York Times in a research report on Wednesday, June 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of New York Times in a research report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their target price on shares of New York Times from $74.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Guggenheim raised their price target on shares of New York Times from $63.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Finally, Citigroup restated a "neutral" rating on shares of New York Times in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, New York Times presently has an average rating of "Moderate Buy" and a consensus price target of $83.22.

New York Times Price Performance

NYT opened at $73.87 on Friday. The company has a market capitalization of $11.96 billion, a P/E ratio of 31.70, a P/E/G ratio of 1.49 and a beta of 0.96. The firm's fifty day moving average price is $75.38 and its two-hundred day moving average price is $75.62. The New York Times Company has a fifty-two week low of $51.03 and a fifty-two week high of $87.10.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.12. The company had revenue of $712.24 million during 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 business's revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. On average, equities research analysts expect that The New York Times Company will post 2.93 EPS for the current fiscal year.

New York Times Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.2%. New York Times's dividend payout ratio is presently 39.48%.

More New York Times News

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

• Positive Sentiment: Zacks highlighted NYT as one of four “safe picks” as consumer confidence improved but inflation, labor worries, and interest-rate concerns kept investors focused on defensive names. That kind of mention can boost demand for the stock as a relatively resilient media company. Article Title
• Neutral Sentiment: The New York Times published a steady stream of high-interest coverage, including major breaking-news live blogs on the heat wave, Ukraine, and politics, which supports traffic and engagement but is not a direct earnings catalyst. Article Title
• Neutral Sentiment: Additional reporting across politics, science, travel, and culture adds breadth to the paper’s content slate, but these stories are unlikely to move the stock on their own unless they translate into stronger readership, subscriptions, or ad sales. Article Title

Insider Transactions at New York Times

In related news, Director David S. Perpich sold 9,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $77.06, for a total transaction of $693,540.00. Following the completion of the transaction, the director owned 28,469 shares in the company, valued at $2,193,821.14. This trade represents a 24.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William Bardeen sold 4,121 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $77.85, for a total value of $320,819.85. Following the transaction, the executive vice president owned 14,560 shares of the company's stock, valued at $1,133,496. This trade represents a 22.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 17,121 shares of company stock valued at $1,310,920. Corporate insiders own 1.90% of the company's stock.

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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