The New York Times Company $NYT Shares Sold by Douglas Lane & Associates LLC

Key Points

• Douglas Lane & Associates cut its New York Times stake by 53% in the third quarter, selling 17,192 shares and retaining 15,217 shares valued at approximately $969,000. Institutional investors collectively own 95.37% of NYT.
• New York Times reported quarterly earnings of $0.69 per share, exceeding estimates, while revenue rose 11.2% year over year to $762.46 million. The company also declared a quarterly dividend of $0.23 per share, representing a 1.4% yield.
• NYT shares opened at $66.41, below the analyst consensus price target of $84.20; analysts maintain a “Moderate Buy” consensus, despite several recent target-price reductions.

Douglas Lane & Associates LLC reduced its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 53.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,217 shares of the company's stock after selling 17,192 shares during the period. Douglas Lane & Associates LLC's holdings in New York Times were worth $969,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Berkshire Hathaway Inc purchased a new position in New York Times during the fourth quarter valued at $351,664,000. Giverny Capital Inc. bought a new stake in shares of New York Times during the second quarter valued at approximately $33,900,000. Renaissance Technologies LLC raised its position in New York Times by 20.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,756,180 shares of the company's stock worth $230,775,000 after buying an additional 465,600 shares during the last quarter. Arbejdsmarkedets Tillaegspension purchased a new stake in shares of New York Times during the 1st quarter valued at about $25,207,000. Finally, Janus Henderson Group PLC boosted its position in New York Times by 30.3% in the first quarter. Janus Henderson Group PLC now owns 761,118 shares of the company's stock worth $63,740,000 after purchasing an additional 177,045 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Price Performance

NYT opened at $66.41 on Friday. The company's 50 day simple moving average is $66.58 and its two-hundred day simple moving average is $73.27. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93. The New York Times Company has a 1-year low of $54.10 and a 1-year high of $87.10.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.02. The business had revenue of $762.46 million during the quarter, compared to analysts' expectations of $752.01 million. New York Times had a return on equity of 22.64% and a net margin of 13.19%. The company's revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 EPS. On average, equities analysts anticipate that The New York Times Company will post 2.84 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Wednesday, October 7th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. New York Times's dividend payout ratio (DPR) is presently 38.33%.

Trending Headlines about New York Times

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

• Positive Sentiment: The Athletic continues to provide a broad stream of premium sports content. Coverage includes Manchester City’s financial-scandal fallout, NFL and NBA features, MLB playoff analysis, college football, Formula 1 and WNBA updates. The volume and variety may support engagement, subscriptions and the strategic value of NYT’s sports offering. Manchester City’s case is another bill fans never agreed to pay
• Positive Sentiment: Breaking-news and live coverage reinforce the breadth of the NYT platform. Reports on the Riyadh airport attack, the Nobel Peace Prize and France’s protests demonstrate continued global-news reach, which can help attract and retain paying digital readers. Houthi Attacks on Riyadh Airport Leave 3 Dead, Saudi Arabia Says
• Neutral Sentiment: Most of the remaining articles are regular editorial output rather than investor catalysts. Culture, lifestyle, music, movie reviews, politics, health, international affairs and sports stories may influence readership over time, but they provide no disclosed update on NYT revenue, costs, subscribers or guidance. The Social Reckoning Review: Sounding the Alarm
• Negative Sentiment: The absence of a fresh financial catalyst leaves valuation and technical pressure in focus. With no new earnings announcement or company guidance in these reports, investors may continue weighing NYT’s valuation against slowing market momentum, helping explain why the shares have been trading below their longer-term average. NLCS predictions: Will the Dodgers-Brewers rematch have a different outcome?

Wall Street Analysts Forecast Growth

NYT has been the topic of a number of recent analyst reports. UBS Group set a $82.00 target price on shares of New York Times in a research note on Tuesday, September 15th. Weiss Ratings raised shares of New York Times from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. Bank of America lowered their price target on New York Times from $87.00 to $80.00 and set a "neutral" rating for the company in a research report on Wednesday, June 24th. Barclays lowered their target price on shares of New York Times from $66.00 to $63.00 and set an "equal weight" rating for the company in a report on Thursday, August 6th. Finally, Wall Street Zen lowered New York Times from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, New York Times currently has a consensus rating of "Moderate Buy" and an average target price of $84.20.

New York Times Profile

The New York Times Company is a media and information company best known for publishing The New York Times, a global news organization founded in 1851. The company produces journalism across national and international news, politics, business, culture, science, sports and opinion, distributing its content through digital platforms and the newspaper's print edition.

In addition to its core news business, the company offers a range of subscription products and services, including NYT Cooking, Games, Audio and Wirecutter, a product-recommendation service.

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