Hennion & Walsh Asset Management Inc. Grows Stake in The New York Times Company $NYT

Key Points

• Hennion & Walsh Asset Management increased its NYT stake by 174.9% in the second quarter, owning 28,981 shares worth approximately $2.03 million. Institutional investors collectively own 95.37% of the company.
• New York Times reported quarterly EPS of $0.69, exceeding estimates by $0.02, while revenue rose 11.2% year over year to $762.46 million. The company also pays a $0.23 quarterly dividend, equivalent to a 1.4% yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $82.89, although Wall Street Zen recently downgraded the stock to “hold.” NYT opened at $63.71, below its 50-day and 200-day moving averages.

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of The New York Times Company (NYSE:NYT - Free Report) by 174.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,981 shares of the company's stock after purchasing an additional 18,438 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in New York Times were worth $2,028,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NYT. Empowered Funds LLC bought a new stake in shares of New York Times during the first quarter valued at approximately $442,000. Focus Partners Wealth lifted its holdings in shares of New York Times by 52.2% in the first quarter. Focus Partners Wealth now owns 11,640 shares of the company's stock worth $577,000 after buying an additional 3,990 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of New York Times by 690.7% during the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company's stock worth $42,000 after acquiring an additional 739 shares during the last quarter. Baird Financial Group Inc. bought a new position in shares of New York Times during the second quarter worth $306,000. Finally, Cerity Partners LLC grew its stake in New York Times by 70.2% during the second quarter. Cerity Partners LLC now owns 55,423 shares of the company's stock valued at $3,103,000 after acquiring an additional 22,853 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NYT. JPMorgan Chase & Co. lifted their price target on shares of New York Times from $74.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, May 29th. UBS Group set a $80.00 price objective on shares of New York Times in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $95.00 price objective on shares of New York Times in a research report on Thursday, May 7th. Evercore reaffirmed an "outperform" rating and issued a $92.00 target price on shares of New York Times in a report on Thursday, May 7th. Finally, Wall Street Zen downgraded New York Times from a "buy" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.89.

New York Times Stock Performance

Shares of NYT opened at $63.71 on Wednesday. The stock has a market capitalization of $10.31 billion, a PE ratio of 26.55, a P/E/G ratio of 1.45 and a beta of 0.95. The company's fifty day moving average is $72.80 and its 200 day moving average is $76.07. The New York Times Company has a fifty-two week low of $54.10 and a fifty-two week high of $87.10.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. New York Times had a net margin of 13.19% and a return on equity of 22.64%. The business had revenue of $762.46 million during the quarter, compared to analyst estimates of $752.01 million. During the same quarter last year, the business earned $0.58 earnings per share. New York Times's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, research analysts forecast that The New York Times Company will post 2.9 earnings per share for the current year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Wednesday, July 8th were given a $0.23 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $0.92 annualized dividend and a yield of 1.4%. New York Times's dividend payout ratio (DPR) is currently 38.33%.

Trending Headlines about New York Times

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: The broad mix of breaking news, politics, international coverage, culture and sports may support reader engagement and digital subscriptions. High-interest coverage includes election results, the California wildfire, the Colombia earthquake, Iran and Ukraine, along with entertainment and athletic features. Results in Tonight’s Key Races Wildfire Forces Evacuations in Big Sur Ukrainian Drone Attack Deep Into Russia
• Positive Sentiment: Recurring lifestyle, entertainment and sports coverage—including Shania Twain, Hallmark, Saturday Night Live, tennis and the Mets—reinforces the breadth of NYT’s subscription offering and could help retention, though the articles provide no measurable subscriber or advertising data. How Shania Twain Won Over Gen Z A 2000s Tennis Takeover at the Canadian Open
• Neutral Sentiment: Most items are editorial features or news reports, including the Bayeux Tapestry, dating and unemployment, university grading, climate conditions in Pakistan, Lake Mead and San Francisco counterculture. They may generate traffic but do not constitute financial catalysts. The Bayeux Tapestry’s Long and Bumpy Road to London Lake Mead Is Smaller Than Ever
• Neutral Sentiment: Political and military coverage— including Iran, Hezbollah, Trump administration actions, vaccines and U.S. elections—may increase news consumption but also carries reputational and audience-polarization risk. There is no evidence in the supplied articles of an impact on NYT’s finances. Trump Signs Executive Order Calling for Fewer Childhood Vaccines The Places Where the Bombs Have Rarely Stopped Falling in Iran
• Negative Sentiment: No article reports weaker operating results, a subscription slowdown, litigation, leadership changes or reduced guidance for NYT. Consequently, the recent decrease in the shares is not explained by this news set; investors will likely focus instead on valuation, advertising trends, subscriber growth and the next earnings update.

Insider Buying and Selling

In other New York Times news, EVP Jacqueline M. Welch sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total transaction of $296,560.00. Following the sale, the executive vice president directly owned 23,873 shares of the company's stock, valued at $1,769,944.22. The trade was a 14.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.90% of the company's stock.

About New York Times

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source