The New York Times Company $NYT Shares Bought by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its stake in The New York Times Company by 264% in Q2, now owning 16,951 shares valued at approximately $949,000.
• The New York Times reported $0.58 EPS for the latest quarter, exceeding analyst expectations of $0.50, with a revenue of $685.90 million, a 9.7% year-over-year increase.
• The company announced a quarterly dividend of $0.18, representing an annualized yield of 1.3% and a payout ratio of 37.11%.

First Citizens Bank & Trust Co. lifted its holdings in The New York Times Company (NYSE:NYT - Free Report) by 264.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,951 shares of the company's stock after purchasing an additional 12,294 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in New York Times were worth $949,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of NYT. Geneos Wealth Management Inc. lifted its holdings in New York Times by 690.7% in the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company's stock worth $42,000 after purchasing an additional 739 shares during the period. WPG Advisers LLC acquired a new stake in shares of New York Times in the 1st quarter worth approximately $60,000. UMB Bank n.a. lifted its stake in shares of New York Times by 79.3% in the 2nd quarter. UMB Bank n.a. now owns 1,675 shares of the company's stock worth $94,000 after acquiring an additional 741 shares during the period. Bartlett & CO. Wealth Management LLC bought a new position in shares of New York Times in the first quarter valued at approximately $99,000. Finally, Blue Trust Inc. increased its stake in shares of New York Times by 20.0% during the second quarter. Blue Trust Inc. now owns 1,769 shares of the company's stock valued at $99,000 after acquiring an additional 295 shares during the period. 95.37% of the stock is currently owned by institutional investors.

New York Times Trading Up 0.2%

Shares of NYT opened at $57.09 on Friday. The business's 50-day moving average price is $57.70 and its 200 day moving average price is $55.33. The stock has a market capitalization of $9.29 billion, a P/E ratio of 29.43, a P/E/G ratio of 1.44 and a beta of 1.16. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $62.24.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.08. The company 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 business's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, research analysts predict that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. New York Times's dividend payout ratio (DPR) is currently 37.11%.

Insider Buying and Selling at New York Times

In other New York Times news, EVP William Bardeen sold 5,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the sale, the executive vice president directly owned 11,243 shares of the company's stock, valued at $652,543.72. The trade was a 30.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jacqueline M. Welch sold 5,500 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the sale, the executive vice president owned 14,470 shares of the company's stock, valued at $868,778.80. The trade was a 27.54% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NYT shares. Weiss Ratings reiterated a "buy (b)" rating on shares of New York Times in a research report on Wednesday, October 8th. Barclays set a $52.00 target price on New York Times and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Evercore ISI upped their price target on shares of New York Times from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Zacks Research cut shares of New York Times from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Finally, Guggenheim boosted their target price on shares of New York Times from $55.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $60.33.

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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