Gradient Investments LLC bought a new position in shares of The New York Times Company (NYSE:NYT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 351,462 shares of the company's stock, valued at approximately $15,190,000. Gradient Investments LLC owned 0.21% of New York Times as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of NYT. Norges Bank bought a new stake in shares of New York Times during the 4th quarter worth $89,754,000. Qube Research & Technologies Ltd boosted its position in shares of New York Times by 232.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,038,033 shares of the company's stock valued at $42,767,000 after purchasing an additional 726,231 shares during the period. Franklin Resources Inc. increased its stake in New York Times by 15.7% in the 4th quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company's stock worth $146,844,000 after purchasing an additional 406,958 shares in the last quarter. Junto Capital Management LP acquired a new stake in New York Times during the 4th quarter worth about $18,255,000. Finally, Los Angeles Capital Management LLC purchased a new stake in New York Times during the fourth quarter valued at about $15,993,000. 95.37% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. StockNews.com raised shares of New York Times from a "hold" rating to a "buy" rating in a research report on Wednesday, March 20th. Argus upgraded New York Times from a "hold" rating to a "buy" rating and set a $51.00 target price for the company in a report on Monday, March 4th. Finally, Citigroup initiated coverage on New York Times in a report on Tuesday, March 12th. They set a "buy" rating and a $52.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, New York Times has a consensus rating of "Moderate Buy" and a consensus target price of $45.67.
Read Our Latest Analysis on NYT
Insider Transactions at New York Times
In related news, Director David S. Perpich sold 3,014 shares of the company's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total transaction of $132,706.42. Following the completion of the transaction, the director now directly owns 20,813 shares in the company, valued at approximately $916,396.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other New York Times news, EVP Diane Brayton sold 7,000 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total value of $299,880.00. Following the completion of the sale, the executive vice president now owns 39,312 shares in the company, valued at approximately $1,684,126.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David S. Perpich sold 3,014 shares of New York Times stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the sale, the director now directly owns 20,813 shares in the company, valued at approximately $916,396.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,557 shares of company stock worth $1,029,968. Insiders own 2.00% of the company's stock.
New York Times Price Performance
Shares of NYSE NYT traded up $0.59 during trading hours on Friday, hitting $45.04. 1,368,086 shares of the stock were exchanged, compared to its average volume of 1,028,602. The firm has a market capitalization of $7.39 billion, a P/E ratio of 32.40 and a beta of 1.00. The New York Times Company has a one year low of $35.06 and a one year high of $49.87. The company's 50 day moving average is $43.31 and its 200 day moving average is $44.79.
New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.10. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The company had revenue of $676.20 million for the quarter, compared to the consensus estimate of $680.02 million. During the same period last year, the business posted $0.65 earnings per share. The firm's revenue was up 1.3% compared to the same quarter last year. Research analysts anticipate that The New York Times Company will post 1.64 earnings per share for the current fiscal year.
New York Times Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.15%. This is a boost from New York Times's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, April 1st. New York Times's dividend payout ratio is currently 37.41%.
About New York Times
(
Free Report)
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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