The New York Times Company (NYSE:NYT) Stock Holdings Trimmed by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. decreased its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 37.3% during the 1st 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 period. Braun Stacey Associates Inc.'s holdings in New York Times were worth $2,984,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NYT. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock worth $25,000 after acquiring an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in New York Times during the 4th quarter valued at approximately $36,000. American National Bank & Trust acquired a new stake in New York Times during the 1st quarter valued at approximately $45,000. Smartleaf Asset Management LLC grew its stake in New York Times by 27.7% during 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 in the last quarter. Finally, Bessemer Group Inc. grew its stake in New York Times by 12.6% during 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 in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NYT. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Guggenheim raised their price objective 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. Finally, Citigroup restated a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.40.

Insider Buying and Selling

In related news, Director David S. Perpich sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total value of $224,720.00. Following the sale, the director owned 27,569 shares of the company's stock, valued at approximately $1,548,826.42. This trade represents a 12.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Bardeen sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the sale, the executive vice president directly owned 16,727 shares in the company, valued at approximately $950,595.41. This trade represents a 13.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,490 shares of company stock valued at $479,728. Insiders own 1.90% of the company's stock.

New York Times Stock Up 1.0%

Shares of NYT traded up $0.58 during mid-day trading on Friday, hitting $57.12. The stock had a trading volume of 739,674 shares, compared to its average volume of 1,405,851. The company has a market cap of $9.31 billion, a PE ratio of 27.07, a PEG ratio of 1.95 and a beta of 1.11. The company's fifty day simple moving average is $54.88 and its two-hundred day simple moving average is $51.84. 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 issued its 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. The company had revenue of $635.91 million during the quarter, compared to analyst estimates of $634.99 million. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The business's revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. Equities analysts expect that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

The company 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. The ex-dividend date is Wednesday, July 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.26%. 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.