Russell Investments Group Ltd. Has $11.42 Million Holdings in The New York Times Company $NYT

Key Points

• Russell Investments Group Ltd. reduced its stake in The New York Times Company by 15.8% during the first quarter, selling 43,097 shares to now own 230,225 shares.
• Insider transactions revealed that William Bardeen, EVP, sold 5,000 shares, reducing his ownership by 30.78%, while David S. Perpich, a director, also sold shares, reflecting significant insider selling activity.
• Analysts maintain a "Moderate Buy" rating for The New York Times, with recent price targets ranging from $52.00 to $67.00, indicating positive market sentiment around the stock.

Russell Investments Group Ltd. trimmed its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,225 shares of the company's stock after selling 43,097 shares during the period. Russell Investments Group Ltd. owned approximately 0.14% of New York Times worth $11,419,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its stake in New York Times by 210.7% during the 1st quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company's stock valued at $79,832,000 after acquiring an additional 1,091,430 shares during the last quarter. Squarepoint Ops LLC boosted its stake in New York Times by 210.5% during the 4th quarter. Squarepoint Ops LLC now owns 1,382,695 shares of the company's stock valued at $71,969,000 after acquiring an additional 937,354 shares during the last quarter. Millennium Management LLC boosted its stake in New York Times by 133.6% during the 4th quarter. Millennium Management LLC now owns 1,559,837 shares of the company's stock valued at $81,190,000 after acquiring an additional 892,155 shares during the last quarter. Nuveen LLC bought a new position in New York Times during the 1st quarter valued at $37,500,000. Finally, Darsana Capital Partners LP boosted its stake in New York Times by 15.0% during the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company's stock valued at $299,288,000 after acquiring an additional 750,000 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Price Performance

NYT traded up $0.1150 on Friday, reaching $59.7650. 1,411,013 shares of the company traded hands, compared to its average volume of 2,298,475. The stock's 50 day moving average price is $55.79 and its 200-day moving average price is $52.57. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 1.50 and a beta of 1.09.

New York Times (NYSE:NYT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.08. The firm had revenue of $685.90 million during 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 revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, equities research analysts forecast that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

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

Insider Buying and Selling

In related news, EVP William Bardeen sold 5,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the transaction, the executive vice president owned 11,243 shares of the company's stock, valued at approximately $652,543.72. The trade was a 30.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO R Anthony Benten sold 1,990 shares of the business's stock in a transaction on 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 in the company, valued at $2,252,123.75. This trade represents a 4.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,490 shares of company stock valued at $769,928. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

NYT has been the topic of a number of research analyst reports. Barclays set a $52.00 price objective on shares of New York Times and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Citigroup reiterated a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Evercore ISI raised their price target on shares of New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Guggenheim raised their price target on shares of New York Times from $55.00 to $56.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley lifted 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.33.

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.