BlackRock Inc. lifted its holdings in The New York Times Company (NYSE:NYT) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,580,337 shares of the company’s stock after acquiring an additional 365,426 shares during the quarter. BlackRock Inc. owned 0.08% of The New York Times worth $651,283,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of The New York Times in the fourth quarter worth $29,000. JJJ Advisors Inc. boosted its holdings in The New York Times by 406.5% during the fourth quarter. JJJ Advisors Inc. now owns 780 shares of the company’s stock worth $40,000 after buying an additional 626 shares in the last quarter. HM Payson & Co. purchased a new stake in The New York Times during the third quarter worth $56,000. Perigon Wealth Management LLC purchased a new stake in The New York Times during the fourth quarter worth $77,000. Finally, Parallel Advisors LLC boosted its holdings in The New York Times by 29.4% during the third quarter. Parallel Advisors LLC now owns 1,823 shares of the company’s stock worth $78,000 after buying an additional 414 shares in the last quarter. Hedge funds and other institutional investors own 93.41% of the company’s stock.
A number of analysts recently issued reports on NYT shares. Evercore ISI raised shares of The New York Times from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $45.00 to $48.00 in a report on Monday, November 9th. Morgan Stanley increased their price target on shares of The New York Times from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $46.29.
The New York Times (NYSE:NYT) last posted its quarterly earnings data on Thursday, February 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The business had revenue of $509.36 million for the quarter, compared to the consensus estimate of $502.74 million. The New York Times had a net margin of 8.88% and a return on equity of 13.73%. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. As a group, sell-side analysts expect that The New York Times Company will post 0.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 22nd. Shareholders of record on Wednesday, April 7th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.54%. This is an increase from The New York Times’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, April 6th. The New York Times’s dividend payout ratio (DPR) is presently 26.09%.
In other news, Director David S. Perpich sold 1,332 shares of the stock in a transaction dated Thursday, February 18th. The shares were sold at an average price of $48.93, for a total value of $65,174.76. Following the completion of the sale, the director now directly owns 18,398 shares in the company, valued at $900,214.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David S. Perpich sold 1,650 shares of the stock in a transaction dated Thursday, December 3rd. The shares were sold at an average price of $45.22, for a total transaction of $74,613.00. Following the completion of the sale, the director now owns 19,730 shares of the company’s stock, valued at $892,190.60. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
The New York Times Profile
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.
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