Fifth Third Bancorp Acquires 74,479 Shares of The New York Times Company $NYT

Fifth Third Bancorp boosted its holdings in The New York Times Company (NYSE:NYT) by 745.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 84,473 shares of the company’s stock after acquiring an additional 74,479 shares during the quarter. Fifth Third Bancorp’s holdings in New York Times were worth $7,073,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of New York Times by 28.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 94,748 shares of the company’s stock worth $6,565,000 after purchasing an additional 21,228 shares during the last quarter. Genus Capital Management Inc. bought a new stake in New York Times in the fourth quarter valued at about $4,945,000. Horizon Investments LLC increased its holdings in New York Times by 52.8% in the fourth quarter. Horizon Investments LLC now owns 97,772 shares of the company’s stock valued at $6,770,000 after purchasing an additional 33,804 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in New York Times by 64.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 30,464 shares of the company’s stock valued at $2,115,000 after purchasing an additional 11,896 shares during the last quarter. Finally, UBS Group AG lifted its stake in New York Times by 328.8% in the fourth quarter. UBS Group AG now owns 525,124 shares of the company’s stock valued at $36,454,000 after buying an additional 402,660 shares during the period. 95.37% of the stock is owned by institutional investors.

Insider Buying and Selling

In other New York Times news, EVP Jacqueline M. Welch sold 4,000 shares of New York Times stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $74.14, for a total value of $296,560.00. Following the transaction, the executive vice president owned 23,873 shares of the company’s stock, valued at approximately $1,769,944.22. The trade was a 14.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David S. Perpich sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $77.06, for a total transaction of $693,540.00. Following the completion of the transaction, the director owned 28,469 shares of the company’s stock, valued at $2,193,821.14. This trade represents a 24.02% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 17,121 shares of company stock valued at $1,310,920. 1.90% of the stock is owned by corporate insiders.

New York Times Trading Up 2.0%

NYT stock opened at $76.70 on Friday. The New York Times Company has a 1-year low of $51.03 and a 1-year high of $87.10. The firm has a market cap of $12.41 billion, a PE ratio of 32.92, a P/E/G ratio of 1.56 and a beta of 0.96. The business’s 50-day moving average price is $74.26 and its two-hundred day moving average price is $75.93.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.12. The company had revenue of $712.24 million during the quarter, compared to the consensus estimate of $699.93 million. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 earnings per share. On average, analysts forecast that The New York Times Company will post 2.93 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, July 23rd. Investors of record on Wednesday, July 8th will be given a $0.23 dividend. The ex-dividend date is Wednesday, July 8th. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. New York Times’s payout ratio is currently 39.48%.

Trending Headlines about New York Times

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Zacks Research upgraded The New York Times Company (NYSE: NYT) from hold to strong-buy, a bullish signal that may be supporting the stock. Tickerreport.com report on Zacks upgrade
• Neutral Sentiment: The company’s newsroom continued to generate high-profile political and geopolitical coverage, including reporting on U.S.-Iran tensions, ICE, Ukraine, and domestic weather disasters, which reinforces NYT’s role as a major breaking-news publisher. Trump Pressures ICE to Resume Traffic Stops After Agency Pulls Back
• Neutral Sentiment: Reuters reported that NYT filed to block federal subpoenas related to reporters’ coverage of security concerns around Trump’s Qatari-donated Air Force One, highlighting legal and press-freedom issues but not an obvious business driver. Reuters: New York Times seeks to block subpoenas to reporters over Air Force One reporting
• Neutral Sentiment: Other NYT headlines over the past day were largely editorial, science, and world-news pieces, such as wildfire smoke, flood coverage, and a new cholesterol drug approval, which are important for readership but less likely to move the stock on their own.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Zacks Research upgraded New York Times from a “hold” rating to a “strong-buy” rating in a report on Monday. Evercore reiterated an “outperform” rating and issued a $92.00 price target on shares of New York Times in a research report on Thursday, May 7th. Barclays lifted their price objective on shares of New York Times from $60.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Morgan Stanley set a $90.00 price objective on shares of New York Times in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of New York Times from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, New York Times has an average rating of “Moderate Buy” and a consensus price target of $83.22.

New York Times Company Profile

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.