Moloney Securities Asset Management LLC Sells 5,217 Shares of The New York Times Company (NYSE:NYT)

Moloney Securities Asset Management LLC cut its holdings in shares of The New York Times Company (NYSE:NYT - Free Report) by 42.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,057 shares of the company's stock after selling 5,217 shares during the quarter. Moloney Securities Asset Management LLC's holdings in New York Times were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NYT. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in New York Times by 511.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock worth $25,000 after acquiring an additional 394 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in New York Times during the 4th quarter worth $36,000. American National Bank & Trust bought a new position in New York Times during the 1st quarter worth $45,000. Bessemer Group Inc. boosted its position in New York Times by 12.6% during the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock worth $99,000 after acquiring an additional 212 shares during the period. Finally, Bartlett & CO. Wealth Management LLC bought a new position in shares of New York Times in the first quarter worth $99,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Trading Down 0.7%

Shares of NYSE NYT traded down $0.41 during mid-day trading on Friday, reaching $55.97. 1,165,693 shares of the company's stock were exchanged, compared to its average volume of 1,413,970. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 1.54 and a beta of 1.11. The business has a fifty day simple moving average of $55.25 and a 200 day simple moving average of $51.93. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.06. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The business had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. During the same quarter last year, the firm earned $0.31 EPS. New York Times's revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research 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 company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Wednesday, July 9th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Wednesday, July 9th. New York Times's dividend payout ratio is presently 39.13%.

Insider Buying and Selling at New York Times

In other New York Times news, EVP William Bardeen sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO R Anthony Benten sold 1,990 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.75, for a total value of $112,932.50. Following the completion of the transaction, the chief accounting officer owned 39,685 shares of the company's stock, valued at approximately $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. Insiders sold a total of 8,490 shares of company stock worth $479,728 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NYT has been the subject of a number of recent analyst reports. Citigroup reiterated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Guggenheim raised their price target 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $56.40.

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.