The New York Times Company $NYT Shares Sold by Copley Financial Group Inc.

Copley Financial Group Inc. reduced its position in shares of The New York Times Company (NYSE:NYT) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,873 shares of the company’s stock after selling 837 shares during the period. Copley Financial Group Inc.’s holdings in New York Times were worth $441,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NYT. Acadian Asset Management LLC boosted its stake in shares of New York Times by 383.0% in the first quarter. Acadian Asset Management LLC now owns 1,765,338 shares of the company’s stock worth $87,538,000 after acquiring an additional 1,399,865 shares during the last quarter. AQR Capital Management LLC lifted its holdings in New York Times by 101.6% in the 1st quarter. AQR Capital Management LLC now owns 2,351,100 shares of the company’s stock valued at $115,627,000 after purchasing an additional 1,184,729 shares in the last quarter. Burgundy Asset Management Ltd. boosted its stake in New York Times by 65.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,325,224 shares of the company’s stock worth $115,331,000 after purchasing an additional 917,766 shares during the last quarter. Nuveen LLC purchased a new stake in shares of New York Times during the first quarter worth $37,500,000. Finally, Alliancebernstein L.P. raised its position in shares of New York Times by 37.4% in the first quarter. Alliancebernstein L.P. now owns 2,622,794 shares of the company’s stock valued at $130,091,000 after buying an additional 714,317 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Guggenheim boosted their price target on shares of New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Barclays raised their target price on shares of New York Times from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Morgan Stanley upped their price target on New York Times from $59.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Zacks Research downgraded New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, JPMorgan Chase & Co. boosted their price objective on New York Times from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.57.

New York Times Stock Performance

NYT opened at $65.07 on Thursday. The stock has a market capitalization of $10.56 billion, a PE ratio of 33.54, a P/E/G ratio of 1.41 and a beta of 1.14. The New York Times Company has a one year low of $44.83 and a one year high of $65.32. The business’s 50 day moving average price is $58.64 and its 200 day moving average price is $57.16.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The company had revenue of $700.82 million during the quarter, compared to analysts’ expectations of $692.01 million. During the same quarter last year, the firm earned $0.45 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, October 8th. New York Times’s payout ratio is 35.12%.

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.