Los Angeles Capital Management LLC Decreases Stake in The New York Times Company (NYSE:NYT)

Los Angeles Capital Management LLC reduced its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 32.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,458 shares of the company's stock after selling 73,370 shares during the quarter. Los Angeles Capital Management LLC owned about 0.09% of New York Times worth $7,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock worth $25,000 after buying an additional 394 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of New York Times in the fourth quarter valued at about $36,000. American National Bank & Trust purchased a new position in New York Times in the first quarter worth $45,000. Bessemer Group Inc. increased its position in shares of New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock worth $99,000 after purchasing an additional 212 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in shares of New York Times during the 1st quarter valued at $99,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Performance

Shares of NYT traded down $0.16 during midday trading on Thursday, hitting $52.66. The company had a trading volume of 909,874 shares, compared to its average volume of 1,712,124. The company's 50-day simple moving average is $55.40 and its 200-day simple moving average is $52.02. The firm has a market capitalization of $8.59 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.46 and a beta of 1.11. The New York Times Company has a 1 year low of $44.83 and a 1 year 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The business had revenue of $635.91 million during the quarter, compared to analysts' expectations of $634.99 million. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. Equities analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Wednesday, July 9th. New York Times's dividend payout ratio (DPR) is presently 39.13%.

Insider Transactions at New York Times

In other New York Times news, Director David S. Perpich sold 4,000 shares of New York Times stock in a transaction that occurred on Tuesday, June 3rd. The stock was 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 in the company, valued at approximately $1,548,826.42. This trade represents a 12.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William Bardeen sold 2,500 shares of New York Times stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the transaction, the executive vice president owned 16,727 shares in the company, valued at $950,595.41. This trade represents a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,490 shares of company stock valued at $479,728. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NYT shares. Citigroup restated a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Guggenheim upped their target price on New York Times from $53.00 to $55.00 and gave the stock a "neutral" rating in a research note on Monday, June 2nd. Finally, Wall Street Zen raised New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, New York Times presently has an average rating of "Moderate Buy" and an average price target of $56.40.

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.