Copeland Capital Management LLC Takes $20.98 Million Position in The New York Times Company (NYSE:NYT)

Copeland Capital Management LLC acquired a new position in shares of The New York Times Company (NYSE:NYT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 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 filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of 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 worth $25,000 after acquiring an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of New York Times in the fourth quarter valued at about $36,000. American National Bank & Trust acquired a new stake in New York Times during the first quarter worth about $45,000. Smartleaf Asset Management LLC raised its stake in 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 during the period. Finally, Bessemer Group Inc. raised its stake in New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock worth $99,000 after purchasing an additional 212 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Analysts Set New Price Targets

NYT has been the subject of a number of recent analyst reports. Citigroup restated a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Guggenheim raised their target price on New York Times from $53.00 to $55.00 and gave the stock a "neutral" rating in a research note on Monday, June 2nd. Finally, Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.40.

Insider Transactions at New York Times

In other New York Times news, CAO R Anthony Benten sold 1,990 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $56.75, for a total transaction of $112,932.50. Following the sale, the chief accounting officer now owns 39,685 shares in the company, valued at $2,252,123.75. This represents a 4.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David S. Perpich sold 4,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total value of $224,720.00. Following the completion of the sale, the director now directly owns 27,569 shares in the company, valued at $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 have sold 8,490 shares of company stock valued at $479,728. 1.90% of the stock is currently owned by corporate insiders.

New York Times Price Performance

Shares of NYSE:NYT traded down $0.29 during mid-day trading on Friday, reaching $55.58. 2,364,795 shares of the company were exchanged, compared to its average volume of 1,397,087. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16. The firm's 50-day simple moving average is $54.24 and its 200 day simple moving average is $51.79. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 1.94 and a beta of 1.13.

New York Times (NYSE:NYT - Get Free Report) last released 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. The business 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 company's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business posted $0.31 earnings per share. On average, research analysts forecast 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 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 1.30%. The ex-dividend date is Wednesday, July 9th. 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.