Allspring Global Investments Holdings LLC lessened its holdings in shares of The New York Times Company (NYSE:NYT - Free Report) by 16.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,107 shares of the company's stock after selling 14,770 shares during the period. Allspring Global Investments Holdings LLC's holdings in New York Times were worth $3,867,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of NYT. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock valued at $25,000 after purchasing an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of New York Times during the 4th quarter worth $36,000. American National Bank & Trust acquired a new position in New York Times in the 1st quarter valued at $45,000. Smartleaf Asset Management LLC grew its stake in New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock valued at $60,000 after buying an additional 247 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in New York Times by 12.6% in the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after purchasing an additional 212 shares during the period. Institutional investors own 95.37% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently commented on NYT. Citigroup reaffirmed a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Wall Street Zen raised shares of New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Finally, Guggenheim upped their target price on shares of New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a research note on Monday, June 2nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $56.40.
Read Our Latest Analysis on New York Times
New York Times Price Performance
NYT stock traded up $0.03 during trading hours on Tuesday, reaching $56.53. The stock had a trading volume of 44,544 shares, compared to its average volume of 1,401,753. The stock has a 50-day simple moving average of $54.98 and a 200 day simple moving average of $51.85. The stock has a market capitalization of $9.22 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 1.95 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 quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The business had revenue of $635.91 million during the quarter, compared to analysts' expectations of $634.99 million. During the same quarter in the previous year, the company earned $0.31 EPS. The business's revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that The New York Times Company will post 2.08 EPS for the current fiscal year.
New York Times Dividend Announcement
The firm 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 dividend of $0.18 per share. The ex-dividend date is Wednesday, July 9th. This represents a $0.72 annualized dividend and a yield of 1.27%. New York Times's dividend payout ratio is presently 39.13%.
Insider Buying and Selling
In other news, EVP William Bardeen sold 2,500 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the sale, the executive vice president owned 16,727 shares in the company, valued at $950,595.41. This represents a 13.00% decrease in their position. The transaction 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 company'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 completion of the sale, the chief accounting officer owned 39,685 shares of the company's stock, valued at approximately $2,252,123.75. The trade was a 4.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,490 shares of company stock worth $479,728 in the last ninety days. Company insiders own 1.90% of the company's stock.
New York Times Company Profile
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Free Report)
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.
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