The New York Times Company (NYSE:NYT) Shares Sold by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. trimmed its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 37.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,164 shares of the company's stock after selling 35,745 shares during the quarter. Braun Stacey Associates Inc.'s holdings in New York Times were worth $2,984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in New York Times by 511.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock valued at $25,000 after purchasing an additional 394 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in New York Times during the 4th quarter worth approximately $36,000. American National Bank & Trust purchased a new position in New York Times during the 1st quarter worth approximately $45,000. Smartleaf Asset Management LLC grew its stake in shares of New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock valued at $60,000 after purchasing an additional 247 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of New York Times by 12.6% in the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after purchasing an additional 212 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at New York Times

In related news, Director David S. Perpich sold 4,000 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total value of $224,720.00. Following the completion of the transaction, the director owned 27,569 shares of the company's stock, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO R Anthony Benten sold 1,990 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $56.75, for a total value of $112,932.50. Following the completion of the transaction, the chief accounting officer directly owned 39,685 shares of the company's stock, valued at $2,252,123.75. This represents a 4.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,490 shares of company stock valued at $479,728 over the last quarter. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NYT. Guggenheim lifted their price target on New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a research note on Monday, June 2nd. Wall Street Zen raised New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Finally, Citigroup reissued a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, New York Times presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.40.

New York Times Trading Up 0.0%

NYSE:NYT traded up $0.02 on Tuesday, hitting $56.52. 1,797,286 shares of the stock were exchanged, compared to its average volume of 1,409,098. The stock has a market cap of $9.22 billion, a PE ratio of 30.72, a PEG ratio of 1.54 and a beta of 1.11. The stock has a fifty day moving average of $55.08 and a 200-day moving average of $51.88. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The company had revenue of $635.91 million during the quarter, compared to analyst estimates of $634.99 million. During the same period in the prior year, the firm posted $0.31 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. As a group, analysts predict that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, July 9th. New York Times's payout ratio is 39.13%.

New York Times Company 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.