The New York Times Company $NYT Shares Bought by Vest Financial LLC

Key Points

• Vest Financial LLC increased its stake in The New York Times Company by 26.1%, owning a total of 79,852 shares worth approximately $4.47 million.
• The New York Times reported a quarterly earnings per share (EPS) of $0.58, exceeding analyst expectations, and showed a 9.7% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.18, with the ex-dividend date set for October 8th, reflecting a 1.3% dividend yield.

Vest Financial LLC lifted its holdings in The New York Times Company (NYSE:NYT - Free Report) by 26.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,852 shares of the company's stock after acquiring an additional 16,511 shares during the period. Vest Financial LLC's holdings in New York Times were worth $4,470,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its position in shares of New York Times by 690.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 846 shares of the company's stock worth $42,000 after buying an additional 739 shares during the last quarter. WPG Advisers LLC bought a new position in shares of New York Times in the 1st quarter worth about $60,000. UMB Bank n.a. lifted its position 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 buying an additional 741 shares during the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in shares of New York Times in the 1st quarter worth about $99,000. Finally, Blue Trust Inc. lifted its position in shares of New York Times by 20.0% in the 2nd quarter. Blue Trust Inc. now owns 1,769 shares of the company's stock worth $99,000 after buying an additional 295 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

New York Times Price Performance

New York Times stock opened at $55.08 on Tuesday. The firm has a 50 day simple moving average of $58.15 and a 200-day simple moving average of $54.92. The stock has a market capitalization of $8.97 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The New York Times Company has a 12-month low of $44.83 and a 12-month 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The business had revenue of $685.90 million during the quarter, compared to analysts' expectations 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 revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. On average, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, October 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. New York Times's dividend payout ratio (DPR) is 37.11%.

Insider Activity at New York Times

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NYT shares. Weiss Ratings restated a "buy (b)" rating on shares of New York Times in a research report on Wednesday, October 8th. Morgan Stanley raised their price target on shares of New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Evercore ISI raised their price target on shares of New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Guggenheim lifted their price objective on shares of New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Zacks Research downgraded shares of New York Times from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $60.33.

New York Times Company 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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