Copeland Capital Management LLC Makes New Investment in The New York Times Company (NYSE:NYT)

Copeland Capital Management LLC purchased a new stake in The New York Times Company (NYSE:NYT - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 422,970 shares of the company's stock, valued at approximately $20,979,000. Copeland Capital Management LLC owned approximately 0.26% of New York Times as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NYT. Y Intercept Hong Kong Ltd grew its position in shares of New York Times by 11.7% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 8,854 shares of the company's stock valued at $461,000 after buying an additional 928 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in New York Times by 10.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,681,384 shares of the company's stock valued at $87,516,000 after acquiring an additional 159,073 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of New York Times during the fourth quarter worth about $1,200,000. US Bancorp DE grew its holdings in shares of New York Times by 139.5% during the fourth quarter. US Bancorp DE now owns 7,882 shares of the company's stock worth $410,000 after purchasing an additional 4,591 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock worth $60,000 after purchasing an additional 247 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at New York Times

In related news, EVP William Bardeen sold 2,500 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $56.83, for a total transaction of $142,075.00. Following the sale, the executive vice president owned 16,727 shares of the company's stock, valued at approximately $950,595.41. The trade was a 13.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 in the company, 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 quarter, insiders sold 8,490 shares of company stock valued at $479,728. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

NYT has been the subject of a number of research analyst reports. Citigroup reissued a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Guggenheim boosted 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, Wall Street Zen upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, New York Times has an average rating of "Moderate Buy" and a consensus price target of $56.40.

New York Times Stock Performance

NYT traded up $0.44 during trading on Tuesday, hitting $56.42. The stock had a trading volume of 1,450,692 shares, compared to its average volume of 1,397,075. The firm has a market capitalization of $9.20 billion, a P/E ratio of 30.66, a PEG ratio of 1.93 and a beta of 1.13. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $58.16. The company's 50-day moving average price is $54.38 and its 200 day moving average price is $51.75.

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

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Wednesday, July 9th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.28%. The ex-dividend date is Wednesday, July 9th. New York Times's payout ratio is 39.13%.

About New York Times

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.