The New York Times Company (NYSE:NYT) Shares Sold by Weybosset Research & Management LLC

Weybosset Research & Management LLC reduced its holdings in The New York Times Company (NYSE:NYT) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,501 shares of the company’s stock after selling 3,597 shares during the quarter. New York Times comprises 3.6% of Weybosset Research & Management LLC’s investment portfolio, making the stock its 13th biggest holding. Weybosset Research & Management LLC owned 0.13% of New York Times worth $9,530,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Covestor Ltd lifted its holdings in New York Times by 9.6% in the third quarter. Covestor Ltd now owns 2,659 shares of the company’s stock valued at $110,000 after acquiring an additional 232 shares during the period. Fifth Third Bancorp lifted its stake in shares of New York Times by 2.3% in the third quarter. Fifth Third Bancorp now owns 12,134 shares of the company’s stock valued at $500,000 after purchasing an additional 276 shares during the period. Treasurer of the State of North Carolina boosted its holdings in New York Times by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 70,924 shares of the company’s stock worth $2,922,000 after buying an additional 360 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in New York Times by 1.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 24,576 shares of the company’s stock worth $1,013,000 after buying an additional 420 shares during the period. Finally, Quadrant Capital Group LLC grew its position in New York Times by 15.9% during the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock worth $161,000 after buying an additional 451 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NYT has been the topic of several research analyst reports. Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, March 4th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, Citigroup initiated coverage on New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.67.

New York Times Price Performance

New York Times stock traded up $0.49 during mid-day trading on Monday, hitting $43.66. 1,056,988 shares of the company were exchanged, compared to its average volume of 1,264,147. The New York Times Company has a 12-month low of $35.06 and a 12-month high of $49.87. The business’s 50 day simple moving average is $43.26 and its two-hundred day simple moving average is $44.78. The company has a market capitalization of $7.16 billion, a P/E ratio of 31.41 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $676.20 million for the quarter, compared to analyst estimates of $680.02 million. During the same quarter last year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts predict that The New York Times Company will post 1.64 earnings per share for the current year.

New York Times Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.11. New York Times’s payout ratio is currently 37.41%.

Insider Activity at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 13,543 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $44.11, for a total value of $597,381.73. Following the completion of the transaction, the chief executive officer now directly owns 90,759 shares in the company, valued at approximately $4,003,379.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director David S. Perpich sold 3,014 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 of the company’s stock, valued at $916,396.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the transaction, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,557 shares of company stock valued at $1,029,968. Company insiders own 2.00% of the company’s stock.

About New York Times

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.