Alps Advisors Inc. Increases Stock Holdings in The New York Times Company (NYSE:NYT)

Alps Advisors Inc. grew its holdings in The New York Times Company (NYSE:NYT - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 260,817 shares of the company's stock after purchasing an additional 19,078 shares during the quarter. Alps Advisors Inc. owned approximately 0.16% of New York Times worth $12,937,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in New York Times by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company's stock worth $822,408,000 after buying an additional 63,856 shares in the last quarter. Darsana Capital Partners LP raised its position in shares of New York Times by 15.0% in the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company's stock worth $299,288,000 after acquiring an additional 750,000 shares in the last quarter. Geode Capital Management LLC raised its position in shares of New York Times by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company's stock worth $210,084,000 after acquiring an additional 102,519 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of New York Times by 13.3% during the 4th quarter. Renaissance Technologies LLC now owns 3,570,380 shares of the company's stock worth $185,838,000 after purchasing an additional 418,155 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in New York Times by 0.7% during the fourth quarter. Franklin Resources Inc. now owns 3,376,517 shares of the company's stock valued at $175,748,000 after purchasing an additional 22,725 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insider Buying and Selling

In other news, Director David S. Perpich sold 4,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total value of $224,720.00. Following the sale, the director directly owned 27,569 shares of the company's stock, valued at $1,548,826.42. This represents a 12.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO R Anthony Benten sold 1,990 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $56.75, for a total transaction of $112,932.50. Following the transaction, the chief accounting officer owned 39,685 shares of the company's stock, valued at $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. In the last quarter, insiders have sold 8,490 shares of company stock worth $479,728. 1.90% of the stock is owned by company insiders.

New York Times Price Performance

New York Times stock traded down $0.41 during mid-day trading on Friday, reaching $55.97. 1,165,693 shares of the company traded hands, compared to its average volume of 1,413,970. The firm's fifty day moving average is $55.25 and its two-hundred day moving average is $51.93. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. The company had revenue of $635.91 million during the quarter, compared to analyst estimates of $634.99 million. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. As a group, equities research analysts predict that The New York Times Company will post 2.08 earnings per share for the current 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. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. New York Times's dividend payout ratio is currently 39.13%.

Wall Street Analysts Forecast Growth

NYT has been the subject of several analyst reports. Guggenheim increased their price target on shares of New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, June 2nd. Citigroup reiterated a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Finally, Wall Street Zen upgraded shares of 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 given a buy rating to the stock. According to data from MarketBeat, New York Times 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.