The New York Times Company $NYT Stake Decreased by Hancock Whitney Corp

Key Points

• Hancock Whitney Corp reduced its stake in The New York Times Company by 51.8%, selling 6,235 shares during the first quarter, leaving them with 5,808 shares valued at approximately $288,000.
• The New York Times Company recently reported an EPS of $0.58 for the last quarter, exceeding estimates by $0.08, with a total revenue of $685.90 million, representing a 9.7% year-over-year growth.
• The company also announced a $0.18 per share quarterly dividend, which was paid to shareholders on July 24, yielding an annualized rate of 1.2% and a dividend payout ratio of 37.11%.

Hancock Whitney Corp lessened its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 51.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,808 shares of the company's stock after selling 6,235 shares during the quarter. Hancock Whitney Corp's holdings in New York Times were worth $288,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NYT. American National Bank & Trust acquired a new stake in shares of New York Times during the first quarter worth $45,000. WPG Advisers LLC acquired a new stake in shares of New York Times during the first quarter worth $60,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of New York Times during the first quarter worth $99,000. Putney Financial Group LLC acquired a new stake in shares of New York Times during the fourth quarter worth $102,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of New York Times during the first quarter worth $115,000. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Trading Up 0.6%

NYSE:NYT traded up $0.37 during mid-day trading on Friday, hitting $58.91. The company had a trading volume of 1,372,577 shares, compared to its average volume of 1,357,095. The business has a fifty day simple moving average of $56.88 and a 200-day simple moving average of $53.64. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 1.48 and a beta of 1.16. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $62.24.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 company's revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. As a group, research analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Announces Dividend

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

Insider Transactions at New York Times

In related news, EVP William Bardeen sold 5,000 shares of New York Times stock in a transaction dated Tuesday, August 12th. The stock was 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 directly owned 11,243 shares in the company, valued at approximately $652,543.72. This trade represents a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jacqueline M. Welch sold 5,500 shares of New York Times stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the transaction, the executive vice president owned 14,470 shares of the company's stock, valued at $868,778.80. This trade represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NYT has been the topic of several research reports. Evercore ISI increased 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. 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. Morgan Stanley increased 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. Guggenheim increased 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. Finally, Citigroup reaffirmed a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.