Wealthquest Corp Invests $466,000 in The New York Times Company (NYSE:NYT)

Wealthquest Corp purchased a new position in shares of The New York Times Company (NYSE:NYT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,391 shares of the company's stock, valued at approximately $466,000.

Several other large investors have also recently made changes to their positions in NYT. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in New York Times by 511.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock worth $25,000 after purchasing an additional 394 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in New York Times during the fourth quarter valued at about $36,000. American National Bank & Trust bought a new position in shares of New York Times during the first quarter valued at about $45,000. Smartleaf Asset Management LLC increased its holdings in shares of New York Times by 27.7% in 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 during the period. 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 owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO R Anthony Benten sold 1,990 shares of New York Times stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $56.75, for a total transaction of $112,932.50. Following the sale, the chief accounting officer now directly owns 39,685 shares in the company, valued at $2,252,123.75. The trade was a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David S. Perpich sold 4,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total value of $224,720.00. Following the completion of the transaction, the director now owns 27,569 shares of the company's stock, valued at approximately $1,548,826.42. This trade represents a 12.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,490 shares of company stock valued at $479,728. Corporate insiders own 1.90% of the company's stock.

Analyst Ratings Changes

NYT has been the topic of several recent research reports. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Guggenheim raised their target price on shares of New York Times from $53.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. Finally, Citigroup reaffirmed a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $56.40.

New York Times Price Performance

NYSE:NYT traded up $0.59 during mid-day trading on Thursday, reaching $55.88. 1,235,688 shares of the company's stock traded hands, compared to its average volume of 1,390,786. The company has a 50 day moving average price of $53.98 and a 200-day moving average price of $51.80. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 1.90 and a beta of 1.13. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $635.91 million for 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 business's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. As a group, analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.29%. New York Times's dividend payout ratio is 39.13%.

New York Times 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.