The New York Times Company $NYT Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in The New York Times Company by 29.1%, owning 181,264 shares valued at approximately $8.94 million as of the latest SEC filing.
• In the first quarter, other investors also significantly boosted their holdings in the New York Times, including Allianz Asset Management, which raised its position by 210.7% to 1.61 million shares worth $79.83 million.
• The New York Times recently declared a quarterly dividend of $0.18 per share, reflecting an annualized yield of 1.2% with a dividend payout ratio of 37.11%.

Hsbc Holdings PLC grew its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 29.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 181,264 shares of the company's stock after buying an additional 40,904 shares during the period. Hsbc Holdings PLC owned 0.11% of New York Times worth $8,942,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in NYT. Allianz Asset Management GmbH grew its stake in shares of New York Times by 210.7% during the 1st quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company's stock valued at $79,832,000 after buying an additional 1,091,430 shares during the period. Squarepoint Ops LLC grew its stake in shares of New York Times by 210.5% during the 4th quarter. Squarepoint Ops LLC now owns 1,382,695 shares of the company's stock valued at $71,969,000 after buying an additional 937,354 shares during the period. Burgundy Asset Management Ltd. grew its stake in shares of New York Times by 65.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,325,224 shares of the company's stock valued at $115,331,000 after buying an additional 917,766 shares during the period. Millennium Management LLC lifted its holdings in shares of New York Times by 133.6% during the 4th quarter. Millennium Management LLC now owns 1,559,837 shares of the company's stock valued at $81,190,000 after acquiring an additional 892,155 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of New York Times during the 1st quarter valued at $37,500,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup restated a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Evercore ISI lifted their target price on shares of New York Times from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Barclays set a $52.00 target price on shares of New York Times and gave the company an "equal weight" rating in a report on Thursday, August 7th. Guggenheim lifted their target price on shares of New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Morgan Stanley lifted their target price on shares of New York Times from $54.00 to $59.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, New York Times presently has an average rating of "Moderate Buy" and an average target price of $60.33.

New York Times Trading Up 0.2%

NYT stock traded up $0.13 during trading on Friday, reaching $59.87. The stock had a trading volume of 1,582,849 shares, compared to its average volume of 2,187,278. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $62.24. The company has a market capitalization of $9.75 billion, a P/E ratio of 30.86, a PEG ratio of 1.51 and a beta of 1.09. The firm has a fifty day moving average price of $56.31 and a 200 day moving average price of $52.95.

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

New York Times Dividend Announcement

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

Insider Transactions at New York Times

In other news, EVP William Bardeen sold 5,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were 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 in the company, valued at approximately $652,543.72. This represents a 30.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David S. Perpich sold 4,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total transaction of $224,720.00. Following the completion of the sale, the director owned 27,569 shares in the company, valued at approximately $1,548,826.42. This trade represents a 12.67% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company's stock.

New York Times 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.