The New York Times Company (NYSE:NYT) Stake Lessened by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its stake in The New York Times Company (NYSE:NYT - Free Report) by 0.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,846,013 shares of the company's stock after selling 16,946 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.13% of New York Times worth $91,562,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Bessemer Group Inc. grew its stake in shares of 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. Snowden Capital Advisors LLC grew its stake in New York Times by 2.1% during the 4th quarter. Snowden Capital Advisors LLC now owns 14,648 shares of the company's stock valued at $762,000 after purchasing an additional 307 shares in the last quarter. Nia Impact Advisors LLC grew its stake in New York Times by 1.6% during the 4th quarter. Nia Impact Advisors LLC now owns 25,687 shares of the company's stock valued at $1,337,000 after purchasing an additional 400 shares in the last quarter. State of Michigan Retirement System grew its stake in New York Times by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 39,016 shares of the company's stock valued at $1,935,000 after purchasing an additional 400 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in New York Times by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 45,700 shares of the company's stock valued at $2,267,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Price Performance

Shares of NYSE NYT traded down $0.02 during mid-day trading on Friday, hitting $60.11. The company had a trading volume of 1,649,764 shares, compared to its average volume of 2,425,518. The New York Times Company has a 12 month low of $44.83 and a 12 month high of $62.24. The firm's 50 day simple moving average is $55.38 and its two-hundred day simple moving average is $52.40. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 1.52 and a beta of 1.09.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $685.90 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Equities analysts forecast that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

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 $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, July 9th. New York Times's dividend payout ratio is currently 37.11%.

Wall Street Analyst Weigh In

NYT has been the subject of a number of recent analyst reports. Guggenheim raised their price objective on New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Barclays set a $52.00 price objective on New York Times and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Evercore ISI increased their target price on New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Morgan Stanley increased their target price on New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Finally, Citigroup reaffirmed a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, New York Times has a consensus rating of "Moderate Buy" and a consensus target price of $60.33.

Insider Activity at New York Times

In other news, Director David S. Perpich sold 4,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 27,569 shares in the company, valued at $1,548,826.42. This trade represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO R Anthony Benten sold 1,990 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer owned 39,685 shares of the company's stock, valued at $2,252,123.75. This trade represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,490 shares of company stock worth $769,928 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

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.