New York Times (NYSE:NYT) EVP Jacqueline Welch Sells 5,500 Shares

Key Points

• Jacqueline Welch, EVP of the New York Times Company, sold 5,500 shares of stock at an average price of $60.04, totaling approximately $330,220, which reduced her holdings by 27.54%.
• The New York Times reported earnings per share of $0.58 for the last quarter, surpassing analyst expectations by $0.08, with revenue increasing by 9.7% year-over-year.
• The company declared a quarterly dividend of $0.18 per share, resulting in an annualized dividend of $0.72, reflecting a dividend yield of 1.2%.

The New York Times Company (NYSE:NYT - Get Free Report) EVP Jacqueline Welch sold 5,500 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the transaction, the executive vice president owned 14,470 shares of the company's stock, valued at approximately $868,778.80. This trade represents a 27.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

New York Times Stock Performance

Shares of NYT traded down $0.71 during mid-day trading on Tuesday, hitting $59.13. 1,629,534 shares of the company were exchanged, compared to its average volume of 1,777,700. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $62.24. The company has a 50 day moving average of $56.41 and a 200-day moving average of $53.04. The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $685.90 million during the quarter, compared to the consensus estimate of $670.22 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The company's revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Wednesday, July 9th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, July 9th. New York Times's dividend payout ratio is 37.11%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NYT shares. Evercore ISI upped their price objective on shares of New York Times from $60.00 to $67.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Guggenheim upped their price objective on shares of New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research note 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 note on Thursday, August 7th. Citigroup reaffirmed a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Finally, Morgan Stanley upped 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 note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.33.

Hedge Funds Weigh In On New York Times

A number of hedge funds have recently made changes to their positions in NYT. Integrated Wealth Concepts LLC boosted its position in shares of New York Times by 9.0% during the 4th quarter. Integrated Wealth Concepts LLC now owns 5,099 shares of the company's stock worth $265,000 after purchasing an additional 421 shares during the period. Northern Trust Corp raised its holdings in shares of New York Times by 22.6% in the 4th quarter. Northern Trust Corp now owns 1,439,621 shares of the company's stock valued at $74,932,000 after purchasing an additional 265,138 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in shares of New York Times in the 4th quarter valued at $357,000. BNP Paribas Financial Markets grew its position in shares of New York Times by 89.9% in the 4th quarter. BNP Paribas Financial Markets now owns 155,909 shares of the company's stock valued at $8,115,000 after buying an additional 73,805 shares during the last quarter. Finally, Centiva Capital LP grew its position in shares of New York Times by 58.6% in the 4th quarter. Centiva Capital LP now owns 36,031 shares of the company's stock valued at $1,875,000 after buying an additional 13,311 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

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.

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