The New York Times Company $NYT Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its New York Times holdings by 24.4% in the first quarter, selling 149,747 shares and retaining 463,629 shares worth approximately $38.8 million. Institutional investors collectively own 95.37% of NYT.
• New York Times beat quarterly expectations, reporting $0.69 earnings per share and $762.46 million in revenue, up 11.2% year over year. The company also pays a quarterly dividend of $0.23 per share, representing a 1.4% yield.
• Analyst sentiment remains moderately bullish, with a consensus “Moderate Buy” rating and an average price target of $82.89, although Bank of America cut its target to $80 and assigned a “neutral” rating.

Bank of America Corp DE lessened its holdings in shares of The New York Times Company (NYSE:NYT - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 463,629 shares of the company's stock after selling 149,747 shares during the period. Bank of America Corp DE owned 0.29% of New York Times worth $38,820,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. purchased a new stake in shares of New York Times during the 1st quarter valued at approximately $1,752,000. Genus Capital Management Inc. purchased a new position in New York Times in the fourth quarter worth approximately $4,945,000. LGT Fund Management Co Ltd. grew its position in New York Times by 27.8% in the first quarter. LGT Fund Management Co Ltd. now owns 70,463 shares of the company's stock worth $5,900,000 after acquiring an additional 15,321 shares during the period. Horizon Investments LLC increased its position in shares of New York Times by 52.8% during the 4th quarter. Horizon Investments LLC now owns 97,772 shares of the company's stock worth $6,770,000 after purchasing an additional 33,804 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of New York Times by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,922,565 shares of the company's stock worth $272,347,000 after purchasing an additional 50,389 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Insiders Place Their Bets

In other news, EVP Jacqueline M. Welch sold 4,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $74.14, for a total value of $296,560.00. Following the completion of the transaction, the executive vice president owned 23,873 shares in the company, valued at approximately $1,769,944.22. This represents a 14.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.90% of the company's stock.

New York Times Stock Up 0.1%

Shares of NYSE:NYT opened at $64.04 on Friday. The New York Times Company has a fifty-two week low of $54.10 and a fifty-two week high of $87.10. The firm's 50 day moving average price is $72.35 and its 200 day moving average price is $75.96. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 1.43 and a beta of 0.95.

New York Times (NYSE:NYT - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.02. The firm had revenue of $762.46 million during the quarter, compared to the consensus estimate of $752.01 million. New York Times had a net margin of 13.19% and a return on equity of 22.64%. The company's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, equities analysts anticipate that The New York Times Company will post 2.9 EPS for the current year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Wednesday, July 8th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. New York Times's dividend payout ratio (DPR) is presently 38.33%.

Analyst Upgrades and Downgrades

NYT has been the topic of a number of recent analyst reports. Evercore reaffirmed an "outperform" rating and issued a $92.00 target price on shares of New York Times in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $95.00 price target on shares of New York Times in a research note on Thursday, May 7th. Wall Street Zen lowered New York Times from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of New York Times in a research note on Friday, July 17th. Finally, Bank of America lowered their target price on New York Times from $87.00 to $80.00 and set a "neutral" rating for the company in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, New York Times has a consensus rating of "Moderate Buy" and a consensus price target of $82.89.

More New York Times News

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Extensive coverage of major geopolitical developments—including Trump-Putin security concerns, Russia’s attacks on grain ships and tensions between Russia and Japan—could support traffic and subscription engagement because these stories have broad international interest. For Trump, Secret Flight Was a Stunning Ruse. For Putin, ‘a Regular Tuesday.’
• Positive Sentiment: The New York Times continues to combine hard-news reporting with health, politics, culture and lifestyle coverage, including the M.M.R. vaccine debate and U.S. election developments. This breadth may help retain subscribers and attract casual readers across its digital products. Should the M.M.R. Vaccine Be Split Into Three Separate Shots?
• Positive Sentiment: Sports coverage remains a potential engagement driver through The Athletic, including reporting on the San Francisco Giants, Buster Posey and a highly touted Aston Villa striker. Sports content supports NYT’s broader subscription-bundle strategy, although the articles do not quantify subscriber or revenue gains. Buster Posey’s Giants legacy is on the line as adulation is shifting to anger
• Neutral Sentiment: Political coverage of the Wisconsin primary, the Democratic Socialists and Representative Alexandria Ocasio-Cortez underscores strong news demand but does not directly change NYT’s financial outlook. Democratic Socialist Falls in Tight Wisconsin Primary for Governor
• Negative Sentiment: The mix includes controversial political and international stories that could increase reputational or polarization risks, but there is no evidence in the articles of advertiser pressure, legal exposure or a material effect on NYT’s earnings. Russian Strikes on Dozens of Grain Ships Threaten Global Food Supplies

About New York Times

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

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