Capital Fund Management S.A. Sells 139,345 Shares of The New York Times Company $NYT

Key Points

• Capital Fund Management S.A. reduced its holdings in The New York Times Company by 46.8%, selling 139,345 shares and owning 158,142 shares worth approximately $7.84 million as of its latest filing.
• A variety of institutional investors have also modified their positions in the company, with notable purchases ranging from $45,000 to $115,000 in the first quarter.
• The New York Times recently announced a quarterly dividend of $0.18, suggesting a stable dividend strategy with a yield of 1.2% and a payout ratio of 37.11%.

Capital Fund Management S.A. lessened its holdings in The New York Times Company (NYSE:NYT - Free Report) by 46.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 158,142 shares of the company's stock after selling 139,345 shares during the quarter. Capital Fund Management S.A. owned 0.10% of New York Times worth $7,844,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. American National Bank & Trust bought a new stake in New York Times during the first quarter worth about $45,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of New York Times in the first quarter worth about $99,000. Putney Financial Group LLC bought a new position in New York Times in the 4th quarter valued at approximately $102,000. Meeder Asset Management Inc. bought a new position in New York Times in the 1st quarter valued at approximately $115,000. Finally, Covestor Ltd raised its holdings in New York Times by 7.9% in the 1st quarter. Covestor Ltd now owns 2,849 shares of the company's stock valued at $141,000 after buying an additional 208 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NYT. Guggenheim increased their target price on shares of New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Barclays set a $52.00 price objective on shares of New York Times and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Morgan Stanley lifted their price target on shares of New York Times from $54.00 to $59.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Finally, Evercore ISI lifted their price objective on shares of New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $60.33.

Insiders Place Their Bets

In other New York Times news, Director David S. Perpich sold 4,000 shares of the company'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 completion of the sale, the director owned 27,569 shares of the company's stock, valued at $1,548,826.42. This represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO R Anthony Benten sold 1,990 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.75, for a total value of $112,932.50. Following the sale, the chief accounting officer directly owned 39,685 shares of the company's stock, valued at approximately $2,252,123.75. This trade represents a 4.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,490 shares of company stock valued at $769,928 over the last quarter. 1.90% of the stock is owned by corporate insiders.

New York Times Stock Down 0.5%

Shares of NYT opened at $59.6320 on Friday. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $62.24. The stock has a market cap of $9.71 billion, a PE ratio of 30.74, a P/E/G ratio of 1.51 and a beta of 1.09. The business's 50-day moving average price is $55.70 and its 200-day moving average price is $52.55.

New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The company had revenue of $685.90 million during the quarter, compared to analyst estimates of $670.22 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. New York Times's revenue was up 9.7% on a year-over-year basis. Analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Wednesday, July 9th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $0.72 annualized dividend and a yield of 1.2%. New York Times's dividend payout ratio is currently 37.11%.

New York Times 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.

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