Kesler Norman & Wride LLC Increases Position in The New York Times Company (NYSE:NYT)

Kesler Norman & Wride LLC lifted its position in The New York Times Company (NYSE:NYT - Free Report) by 29.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,876 shares of the company's stock after acquiring an additional 5,889 shares during the quarter. Kesler Norman & Wride LLC's holdings in New York Times were worth $1,284,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NYT. Wealth Enhancement Advisory Services LLC increased its stake in shares of New York Times by 109.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,373 shares of the company's stock valued at $1,259,000 after buying an additional 13,248 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of New York Times during the first quarter worth $250,000. Centiva Capital LP grew its stake in New York Times by 58.6% during the 4th quarter. Centiva Capital LP now owns 36,031 shares of the company's stock valued at $1,875,000 after purchasing an additional 13,311 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of New York Times by 164.0% in the first quarter. State of Alaska Department of Revenue now owns 49,119 shares of the company's stock worth $2,436,000 after acquiring an additional 30,515 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in New York Times during the fourth quarter valued at approximately $1,200,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other New York Times news, Director David S. Perpich sold 4,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total value of $224,720.00. Following the transaction, the director directly owned 27,569 shares of the company's stock, valued at approximately $1,548,826.42. The trade was a 12.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO R Anthony Benten sold 1,990 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $56.75, for a total transaction of $112,932.50. Following the transaction, the chief accounting officer directly owned 39,685 shares of the company's stock, valued at $2,252,123.75. This represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,490 shares of company stock valued at $479,728. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NYT shares. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a research report 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 report on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, New York Times presently has an average rating of "Moderate Buy" and a consensus price target of $56.40.

New York Times Trading Down 0.7%

NYT traded down $0.41 during trading hours on Friday, hitting $55.97. 1,165,693 shares of the company's stock were exchanged, compared to its average volume of 1,415,537. The firm has a market cap of $9.13 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The firm has a 50 day moving average of $55.32 and a 200 day moving average of $51.94. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.06. The company had revenue of $635.91 million for the quarter, compared to the consensus estimate of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Wednesday, July 9th. New York Times's payout ratio is 39.13%.

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.