Douglas Lane & Associates LLC Sells 10,183 Shares of The New York Times Company $NYT

Key Points

• Douglas Lane & Associates LLC reduced its stake in The New York Times Company by 10.1%, holding approximately 0.06% of the company worth $5,051,000.
• Institutional investors own 95.37% of The New York Times' stock, with significant increases in holdings noted from Voya Investment Management and Acadian Asset Management.
• Analysts have mixed ratings on The New York Times, with an average rating of "Moderate Buy" and price targets ranging from $52.00 to $67.00.

Douglas Lane & Associates LLC lowered its stake in The New York Times Company (NYSE:NYT - Free Report) by 10.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,222 shares of the company's stock after selling 10,183 shares during the period. Douglas Lane & Associates LLC owned approximately 0.06% of New York Times worth $5,051,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. 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 purchasing an additional 187,056 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in New York Times by 7.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 10,392,977 shares of the company's stock valued at $515,492,000 after acquiring an additional 698,433 shares during the period. Baillie Gifford & Co. increased its stake in New York Times by 19.0% during the first quarter. Baillie Gifford & Co. now owns 3,018,477 shares of the company's stock valued at $149,716,000 after acquiring an additional 481,682 shares during the period. Dimensional Fund Advisors LP increased its stake in New York Times by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,707,676 shares of the company's stock valued at $134,292,000 after acquiring an additional 211,062 shares during the period. Finally, Alliancebernstein L.P. increased its stake in New York Times by 37.4% during the first quarter. Alliancebernstein L.P. now owns 2,622,794 shares of the company's stock valued at $130,091,000 after acquiring an additional 714,317 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NYT. Evercore ISI boosted their price target on New York Times from $60.00 to $67.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Barclays set a $52.00 price target on New York Times and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Guggenheim raised their target price on New York Times from $55.00 to $56.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Morgan Stanley boosted their price target on New York Times from $54.00 to $59.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Finally, Zacks Research lowered New York Times from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.33.

New York Times Trading Down 1.5%

NYSE NYT traded down $0.91 during trading hours on Tuesday, reaching $58.33. 2,074,714 shares of the company's stock were exchanged, compared to its average volume of 1,295,541. The stock has a market cap of $9.50 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. The New York Times Company has a one year low of $44.83 and a one year high of $62.24. The firm has a fifty day moving average of $56.98 and a 200-day moving average of $53.79.

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

New York Times Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Wednesday, July 9th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. New York Times's dividend payout ratio is 37.11%.

Insider Buying and Selling

In related news, EVP Jacqueline M. Welch sold 5,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 14,470 shares in the company, valued at $868,778.80. This represents a 27.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Bardeen sold 5,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total value of $290,200.00. Following the completion of the transaction, the executive vice president owned 11,243 shares in the company, valued at $652,543.72. The trade was a 30.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

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.