The New York Times Company (NYSE:NYT) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC reduced its stake in The New York Times Company by 50.4%, now holding 17,888 shares valued at approximately $887,000.
• The New York Times reported earnings of $0.58 per share, exceeding estimates, with a revenue increase of 9.7% year-over-year.
• The company recently declared a quarterly dividend of $0.18, reflecting an annual dividend yield of 1.3% and a payout ratio of 39.13%.

New Age Alpha Advisors LLC trimmed its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 50.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,888 shares of the company's stock after selling 18,159 shares during the period. New Age Alpha Advisors LLC's holdings in New York Times were worth $887,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Darsana Capital Partners LP lifted its holdings in New York Times by 15.0% during the fourth quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company's stock valued at $299,288,000 after purchasing an additional 750,000 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of New York Times by 19.0% in the first quarter. Baillie Gifford & Co. now owns 3,018,477 shares of the company's stock worth $149,716,000 after buying an additional 481,682 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of New York Times by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,496,614 shares of the company's stock worth $129,954,000 after buying an additional 145,997 shares in the last quarter. Invesco Ltd. lifted its stake in shares of New York Times by 17.7% in the fourth quarter. Invesco Ltd. now owns 2,145,748 shares of the company's stock worth $111,686,000 after buying an additional 322,141 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in shares of New York Times by 19.4% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,651,762 shares of the company's stock worth $85,974,000 after buying an additional 268,085 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at New York Times

In other New York Times news, CAO R Anthony Benten sold 1,990 shares of the 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 sale, the chief accounting officer directly owned 39,685 shares of the company's stock, valued at approximately $2,252,123.75. This represents a 4.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David S. Perpich sold 4,000 shares of the stock in a transaction that occurred on 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 directly owned 27,569 shares in the company, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,490 shares of company stock valued at $479,728. Insiders own 1.90% of the company's stock.

New York Times Stock Performance

Shares of New York Times stock traded up $0.43 on Tuesday, reaching $58.04. The company had a trading volume of 1,598,651 shares, compared to its average volume of 1,798,585. The firm's 50 day moving average price is $55.07 and its two-hundred day moving average price is $52.22. The firm has a market cap of $9.46 billion, a PE ratio of 29.92, a PEG ratio of 1.45 and a beta of 1.09. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $670.22 million. During the same period in the prior year, the firm earned $0.45 EPS. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Wednesday, July 9th were given a $0.18 dividend. 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 is currently 37.11%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NYT. Citigroup reissued a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Guggenheim boosted 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. Morgan Stanley boosted 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. 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. Finally, Evercore ISI boosted 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.33.

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.