Fiera Capital Corp Has $1.09 Million Stock Position in The New York Times Company (NYSE:NYT)

Key Points

• Fiera Capital Corp dramatically decreased its stake in The New York Times Company by 98.2%, selling over 1.2 million shares, leaving it with just 21,982 shares valued at about $1.09 million.
• New York Times reported better-than-expected earnings for the last quarter, with revenue increasing by 7.1% year-over-year and earnings per share reaching $0.41, surpassing estimates.
• The company has declared a quarterly dividend of $0.18 per share, resulting in a 1.40% dividend yield, reflecting a payout ratio of 39.13%.

Fiera Capital Corp decreased its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 98.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 21,982 shares of the company's stock after selling 1,208,385 shares during the period. Fiera Capital Corp's holdings in New York Times were worth $1,090,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Darsana Capital Partners LP raised its stake in New York Times by 15.0% in the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company's stock worth $299,288,000 after purchasing an additional 750,000 shares in the last quarter. Geode Capital Management LLC raised its stake in New York Times by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company's stock worth $210,084,000 after purchasing an additional 102,519 shares in the last quarter. Renaissance Technologies LLC raised its stake in New York Times by 13.3% in the 4th quarter. Renaissance Technologies LLC now owns 3,570,380 shares of the company's stock worth $185,838,000 after purchasing an additional 418,155 shares in the last quarter. Franklin Resources Inc. raised its stake in New York Times by 0.7% in the 4th quarter. Franklin Resources Inc. now owns 3,376,517 shares of the company's stock worth $175,748,000 after purchasing an additional 22,725 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in New York Times by 19.0% in the 1st quarter. Baillie Gifford & Co. now owns 3,018,477 shares of the company's stock worth $149,716,000 after purchasing an additional 481,682 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wall Street Zen upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Citigroup restated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Finally, Guggenheim boosted their target price on shares of New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, June 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, New York Times has a consensus rating of "Moderate Buy" and an average price target of $56.40.

Insider Buying and Selling

In related news, CAO R Anthony Benten sold 1,990 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.75, for a total transaction of $112,932.50. Following the completion of the transaction, the chief accounting officer directly owned 39,685 shares in the company, valued at $2,252,123.75. This represents a 4.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $224,720.00. Following the transaction, the director owned 27,569 shares of the company's stock, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,490 shares of company stock worth $479,728 in the last three months. 1.90% of the stock is owned by corporate insiders.

New York Times Stock Up 0.7%

Shares of NYSE:NYT traded up $0.37 during midday trading on Friday, hitting $52.26. The stock had a trading volume of 1,918,758 shares, compared to its average volume of 1,724,551. The company's 50-day moving average price is $55.02 and its 200-day moving average price is $52.03. The company has a market capitalization of $8.52 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 1.41 and a beta of 1.11. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $635.91 million during the quarter, compared to analysts' expectations of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. Research analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Dividend Announcement

The business also recently disclosed 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. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was 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.