The New York Times Company (NYSE:NYT) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in The New York Times Company (NYSE:NYT - Free Report) by 34.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,059 shares of the company's stock after selling 53,533 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of New York Times worth $5,112,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NYT. Raymond James Financial Inc. purchased a new stake in shares of New York Times during the 4th quarter valued at approximately $1,544,000. Commonwealth Equity Services LLC increased its holdings in New York Times by 2.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 17,752 shares of the company's stock worth $924,000 after acquiring an additional 401 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in New York Times by 8.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,934 shares of the company's stock worth $361,000 after acquiring an additional 558 shares during the period. Sei Investments Co. increased its holdings in New York Times by 16.8% during the 4th quarter. Sei Investments Co. now owns 122,113 shares of the company's stock worth $6,356,000 after acquiring an additional 17,584 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in New York Times during the 4th quarter worth approximately $2,483,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NYT has been the topic of a number of analyst reports. Guggenheim upped their target price on shares of New York Times from $53.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. Citigroup reissued a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Finally, Wall Street Zen raised shares of New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $56.40.

Insider Transactions at New York Times

In other news, 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 completion of the sale, the chief accounting officer directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David S. Perpich sold 4,000 shares of New York Times stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total transaction of $224,720.00. Following the sale, the director directly owned 27,569 shares in the company, valued at approximately $1,548,826.42. This trade represents a 12.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,490 shares of company stock valued at $479,728. 1.90% of the stock is currently owned by corporate insiders.

New York Times Trading Down 0.4%

NYSE:NYT traded down $0.23 on Friday, reaching $52.62. 1,336,843 shares of the stock traded hands, compared to its average volume of 1,663,220. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 1.44 and a beta of 1.11. The New York Times Company has a 12 month low of $44.83 and a 12 month high of $58.16. The company's fifty day simple moving average is $55.34 and its 200 day simple moving average is $52.02.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings data 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. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The company had revenue of $635.91 million for the quarter, compared to the consensus estimate of $634.99 million. During the same quarter last year, the firm posted $0.31 earnings per share. The firm's revenue was up 7.1% compared to the same quarter last year. Equities analysts anticipate that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Wednesday, July 9th. New York Times's dividend payout ratio (DPR) is presently 39.13%.

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.