Wealth Enhancement Advisory Services LLC Increases Position in The New York Times Company $NYT

Wealth Enhancement Advisory Services LLC boosted its holdings in The New York Times Company (NYSE:NYT - Free Report) by 154.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,522 shares of the company's stock after purchasing an additional 39,149 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in New York Times were worth $3,685,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. purchased a new stake in shares of New York Times during the first quarter valued at approximately $250,000. State of Alaska Department of Revenue grew its holdings in shares of New York Times by 164.0% during the first quarter. State of Alaska Department of Revenue now owns 49,119 shares of the company's stock valued at $2,436,000 after buying an additional 30,515 shares during the last quarter. Element Capital Management LLC purchased a new stake in shares of New York Times during the first quarter valued at approximately $2,742,000. Harbor Capital Advisors Inc. grew its holdings in shares of New York Times by 29.2% during the second quarter. Harbor Capital Advisors Inc. now owns 30,808 shares of the company's stock valued at $1,725,000 after buying an additional 6,957 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of New York Times by 331.6% during the first quarter. Raymond James Financial Inc. now owns 128,078 shares of the company's stock valued at $6,353,000 after buying an additional 98,405 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insiders Place Their Bets

In other New York Times news, EVP Jacqueline M. Welch sold 5,500 shares of New York Times 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 transaction, the executive vice president directly owned 14,470 shares of the company's stock, valued at $868,778.80. This trade represents a 27.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP William Bardeen sold 5,000 shares of New York Times stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

New York Times Stock Performance

NYT opened at $58.14 on Friday. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 1.46 and a beta of 1.16. The company has a fifty day moving average of $57.47 and a 200 day moving average of $54.31. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $62.24.

New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The business had revenue of $685.90 million during the quarter, compared to analysts' expectations of $670.22 million. During the same period last year, the company posted $0.45 EPS. The business's revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. New York Times's payout ratio is currently 37.11%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NYT shares. Guggenheim increased their price target on shares of New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley increased their price objective on shares of New York Times from $54.00 to $59.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Barclays set a $52.00 price objective on shares of New York Times and gave the company an "equal weight" rating in a research report on Thursday, August 7th. 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. Finally, Citigroup restated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

Want to see what other hedge funds are holding NYT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The New York Times Company (NYSE:NYT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.