Brown Advisory Inc. Sells 27,380 Shares of The New York Times Company (NYSE:NYT)

Brown Advisory Inc. reduced its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 61.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,986 shares of the company's stock after selling 27,380 shares during the period. Brown Advisory Inc.'s holdings in New York Times were worth $843,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NYT. Proficio Capital Partners LLC bought a new position in shares of New York Times during the fourth quarter valued at about $1,200,000. Raymond James Financial Inc. bought a new stake in New York Times in the fourth quarter worth about $1,544,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in New York Times in the fourth quarter worth about $369,000. Swiss National Bank raised its position in New York Times by 0.7% in the fourth quarter. Swiss National Bank now owns 305,400 shares of the company's stock worth $15,896,000 after acquiring an additional 2,100 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in New York Times by 2.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 17,752 shares of the company's stock worth $924,000 after acquiring an additional 401 shares during the period. 95.37% of the stock is owned by institutional investors.

Insider Activity at New York Times

In related news, CAO R Anthony Benten sold 1,990 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.75, for a total transaction of $112,932.50. Following the completion of the transaction, the chief accounting officer owned 39,685 shares of the company's stock, valued at approximately $2,252,123.75. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David S. Perpich sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total transaction of $224,720.00. Following the transaction, the director directly owned 27,569 shares of the company's stock, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,490 shares of company stock valued at $479,728. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

New York Times Price Performance

Shares of NYT traded down $0.35 during trading hours on Friday, hitting $53.51. The company's stock had a trading volume of 668,426 shares, compared to its average volume of 1,420,815. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 1.47 and a beta of 1.11. The business has a 50 day simple moving average of $55.48 and a two-hundred day simple moving average of $51.99. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. The company had revenue of $635.91 million during the quarter, compared to analysts' expectations of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. New York Times's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 earnings per share. Research analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Wednesday, July 9th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.72 annualized dividend and a yield of 1.35%. New York Times's dividend payout ratio is currently 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.