The New York Times Company (NYSE:NYT) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 73.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,070 shares of the company's stock after selling 21,893 shares during the period. Pacer Advisors Inc.'s holdings in New York Times were worth $400,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of 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 worth $25,000 after purchasing an additional 394 shares in the last quarter. American National Bank & Trust acquired a new position in shares of New York Times during the 1st quarter worth $45,000. Bessemer Group Inc. increased its holdings in New York Times by 12.6% in the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after buying an additional 212 shares in the last quarter. Bartlett & CO. Wealth Management LLC purchased a new stake in New York Times during the first quarter worth $99,000. Finally, Putney Financial Group LLC acquired a new stake in New York Times in the 4th quarter valued at about $102,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at New York Times

In other New York Times news, EVP William Bardeen sold 2,500 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the transaction, the executive vice president owned 16,727 shares of the company's stock, 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 at this link. Also, Director David S. Perpich sold 4,000 shares of New York Times stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total transaction of $224,720.00. Following the sale, the director owned 27,569 shares in the company, valued at approximately $1,548,826.42. This trade represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,490 shares of company stock valued at $479,728 in the last ninety days. Company insiders own 1.90% of the company's stock.

New York Times Stock Up 0.7%

NYT opened at $52.26 on Friday. The firm has a market capitalization of $8.52 billion, a P/E ratio of 28.40, a PEG ratio of 1.42 and a beta of 1.09. The stock has a fifty day moving average of $54.95 and a 200-day moving average of $52.04. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The company had revenue of $635.91 million during the quarter, compared to the consensus estimate of $634.99 million. During the same period last year, the business earned $0.31 EPS. The business's quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Wednesday, July 9th were issued a $0.18 dividend. 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 1.4%. New York Times's dividend payout ratio is 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.

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