Wealth Enhancement Advisory Services LLC Increases Holdings in The New York Times Company (NYSE:NYT)

Wealth Enhancement Advisory Services LLC boosted its position in The New York Times Company (NYSE:NYT - Free Report) by 109.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,373 shares of the company's stock after acquiring an additional 13,248 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in New York Times were worth $1,259,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of New York Times by 511.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock valued at $25,000 after purchasing an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of New York Times during the fourth quarter worth $36,000. American National Bank & Trust bought a new stake in shares of New York Times during the first quarter worth $45,000. Smartleaf Asset Management LLC increased its holdings in shares of New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock worth $60,000 after buying an additional 247 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of New York Times by 12.6% in the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after acquiring an additional 212 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP William Bardeen sold 2,500 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the sale, the executive vice president directly owned 16,727 shares of the company's stock, valued at $950,595.41. The trade was a 13.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO R Anthony Benten sold 1,990 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.75, for a total value of $112,932.50. Following the completion of the transaction, the chief accounting officer owned 39,685 shares in the company, valued at approximately $2,252,123.75. This represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,490 shares of company stock worth $479,728 in the last quarter. 1.90% of the stock is owned by corporate insiders.

New York Times Stock Performance

Shares of NYSE NYT traded up $0.23 during midday trading on Wednesday, reaching $56.60. The stock had a trading volume of 1,679,790 shares, compared to its average volume of 1,719,199. The company's 50 day moving average price is $54.51 and its 200 day moving average price is $51.78. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $58.16. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11.

New York Times (NYSE:NYT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $635.91 million during the quarter, compared to analysts' expectations of $634.99 million. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The firm's revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. Equities analysts forecast that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.27%. New York Times's dividend payout ratio is currently 39.13%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NYT shares. Citigroup restated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Finally, Guggenheim raised their price objective on shares of New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, June 2nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, New York Times has a consensus rating of "Moderate Buy" and an average price target of $56.40.

About New York Times

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.