Petrus Trust Company LTA Purchases 4,865 Shares of The New York Times Company $NYT

Key Points

• Petrus Trust Company LTA increased its holdings in The New York Times Company by 45%, owning a total of 15,675 shares worth approximately $777,000 after acquiring an additional 4,865 shares.
• The New York Times reported earnings per share of $0.58 for the last quarter, exceeding analysts' expectations, and experienced a 9.7% increase in revenue year-over-year with total revenue of $685.90 million.
• Several analysts upgraded their ratings for The New York Times, with target prices ranging from $52.00 to $67.00, and the stock currently holds an average rating of "Moderate Buy".

Petrus Trust Company LTA raised its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 45.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,675 shares of the company's stock after acquiring an additional 4,865 shares during the period. Petrus Trust Company LTA's holdings in New York Times were worth $777,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in New York Times by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 15,987,404 shares of the company's stock worth $792,975,000 after buying an additional 187,056 shares during the period. T. Rowe Price Investment Management Inc. increased its position in New York Times by 7.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,392,977 shares of the company's stock worth $515,492,000 after buying an additional 698,433 shares during the period. Baillie Gifford & Co. increased its position in New York Times by 19.0% in the 1st 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 during the period. Dimensional Fund Advisors LP increased its position in New York Times by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,707,676 shares of the company's stock worth $134,292,000 after buying an additional 211,062 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of New York Times by 37.4% during the first quarter. Alliancebernstein L.P. now owns 2,622,794 shares of the company's stock valued at $130,091,000 after buying an additional 714,317 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Activity

In other New York Times news, EVP William Bardeen sold 5,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the sale, the executive vice president directly owned 11,243 shares of the company's stock, valued at approximately $652,543.72. This represents a 30.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jacqueline M. Welch sold 5,500 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the sale, the executive vice president directly owned 14,470 shares in the company, 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup reaffirmed a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Evercore ISI upped their price objective on shares of New York Times from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Barclays set a $52.00 price objective on shares of New York Times and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Guggenheim upped their price objective on shares of New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley upped their price objective on shares of New York Times from $54.00 to $59.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.33.

New York Times Stock Performance

New York Times stock traded down $0.55 during trading hours on Tuesday, hitting $58.28. 1,219,525 shares of the stock were exchanged, compared to its average volume of 1,458,340. The stock has a market capitalization of $9.49 billion, a P/E ratio of 30.04, a P/E/G ratio of 1.48 and a beta of 1.16. The New York Times Company has a 12 month low of $44.83 and a 12 month high of $62.24. The business's 50-day moving average is $56.80 and its two-hundred day moving average is $53.42.

New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $685.90 million for the quarter, compared to analysts' expectations 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 period in the prior year, the firm earned $0.45 earnings per share. On average, equities analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Wednesday, July 9th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, July 9th. New York Times's dividend payout ratio is currently 37.11%.

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.