Kapitalo Investimentos Ltda Takes Position in The New York Times Company $NYT

Key Points

• Kapitalo Investimentos Ltda has acquired a new stake of 4,319 shares in The New York Times Company, valued at about $242,000 during the second quarter.
• The New York Times reported quarterly earnings of $0.58 per share, exceeding estimates, with a revenue of $685.90 million, reflecting a 9.7% year-over-year increase.
• The company's quarterly dividend was recently declared at $0.18 per share, resulting in a 1.2% dividend yield and a payout ratio of 37.11%.

Kapitalo Investimentos Ltda purchased a new stake in shares of The New York Times Company (NYSE:NYT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,319 shares of the company's stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NYT. Geneos Wealth Management Inc. boosted its stake 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 valued at $42,000 after purchasing an additional 739 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of New York Times during the first quarter worth about $45,000. WPG Advisers LLC acquired a new stake in New York Times in the 1st quarter worth approximately $60,000. UMB Bank n.a. lifted its stake in shares of New York Times by 79.3% during the second quarter. UMB Bank n.a. now owns 1,675 shares of the company's stock worth $94,000 after buying an additional 741 shares during the period. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in New York Times in the 1st quarter worth $99,000. 95.37% of the stock is currently owned by institutional investors.

New York Times Trading Down 0.1%

Shares of NYT stock opened at $58.42 on Monday. The firm has a market capitalization of $9.51 billion, a P/E ratio of 30.11, a price-to-earnings-growth ratio of 1.47 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. The firm's fifty day simple moving average is $57.12 and its 200 day simple moving average is $54.08.

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

New York Times Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NYT. Morgan Stanley raised their target price on shares of New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. 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 lifted their target price on New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Evercore ISI boosted their price target on New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.33.

Insider Buying and Selling at New York Times

In other news, EVP William Bardeen sold 5,000 shares of the business's 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 sale, the executive vice president owned 11,243 shares of the company's stock, valued at $652,543.72. The trade was a 30.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jacqueline M. Welch sold 5,500 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $60.04, for a total transaction of $330,220.00. Following the completion of the transaction, the executive vice president directly owned 14,470 shares of the company's stock, valued at $868,778.80. This 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 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.

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