Cwm LLC Has $3.89 Million Holdings in The New York Times Company $NYT

Key Points

• Cwm LLC has significantly increased its holdings in The New York Times Company by 153%, owning 69,537 shares valued at approximately $3.89 million as of the latest SEC filing.
• The New York Times Company recently reported $0.58 earnings per share for the quarter, exceeding analysts' estimates, with a revenue of $685.9 million, reflecting a 9.7% year-over-year increase.
• The company announced a quarterly dividend of $0.18 per share, set to be paid on October 23rd, which offers an annualized yield of 1.3%.

Cwm LLC lifted its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 153.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,537 shares of the company's stock after purchasing an additional 42,054 shares during the quarter. Cwm LLC's holdings in New York Times were worth $3,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of New York Times by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 15,987,404 shares of the company's stock worth $792,975,000 after buying an additional 187,056 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of New York Times by 7.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,392,977 shares of the company's stock worth $515,492,000 after buying an additional 698,433 shares during the period. Baillie Gifford & Co. lifted its position in shares of New York Times by 19.0% during the 1st quarter. Baillie Gifford & Co. now owns 3,018,477 shares of the company's stock worth $149,716,000 after buying an additional 481,682 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of New York Times by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,707,676 shares of the company's stock worth $134,292,000 after buying an additional 211,062 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of New York Times by 37.4% during the 1st quarter. Alliancebernstein L.P. now owns 2,622,794 shares of the company's stock worth $130,091,000 after buying an additional 714,317 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Stock Performance

Shares of NYT opened at $55.66 on Friday. The stock has a fifty day moving average price of $57.99 and a two-hundred day moving average price of $54.97. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 1.38 and a beta of 1.16.

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

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. New York Times's payout ratio is presently 37.11%.

Insiders Place Their Bets

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the completion of the sale, the executive vice president owned 14,470 shares in the company, valued at $868,778.80. The trade was a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP William Bardeen sold 5,000 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total value of $290,200.00. Following the sale, the executive vice president owned 11,243 shares of the company's stock, valued at approximately $652,543.72. The trade was a 30.78% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NYT shares. Barclays set a $52.00 target price on New York Times and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Evercore ISI raised their target price on New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Morgan Stanley raised their target price on New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Zacks Research downgraded New York Times from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of New York Times in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $60.33.

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.

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