Capital World Investors Has $45.43 Million Position in The New York Times Company (NYSE:NYT)

Capital World Investors lessened its holdings in The New York Times Company (NYSE:NYT) by 0.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,051,090 shares of the company’s stock after selling 1,512 shares during the quarter. Capital World Investors owned approximately 0.64% of New York Times worth $45,428,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of New York Times during the fourth quarter valued at $31,000. TFO Wealth Partners LLC raised its position in New York Times by 84,033.3% during the 4th quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after purchasing an additional 2,521 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in New York Times by 15.9% during the 4th 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. Boston Family Office LLC bought a new stake in shares of New York Times in the 4th quarter valued at about $206,000. Finally, Boston Trust Walden Corp acquired a new stake in shares of New York Times in the fourth quarter valued at about $212,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Price Performance

Shares of NYSE:NYT opened at $53.87 on Friday. The business’s 50-day moving average is $51.33 and its 200-day moving average is $47.22. The New York Times Company has a 1 year low of $39.73 and a 1 year high of $55.63. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 35.91 and a beta of 1.06.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.11. The firm had revenue of $594.00 million for the quarter, compared to analyst estimates of $591.97 million. New York Times had a return on equity of 17.33% and a net margin of 10.19%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 earnings per share. Analysts anticipate that The New York Times Company will post 1.77 EPS for the current year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.97%. The ex-dividend date was Tuesday, July 9th. New York Times’s dividend payout ratio (DPR) is currently 34.67%.

Analysts Set New Price Targets

Separately, Evercore ISI upped their target price on New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, New York Times currently has an average rating of “Moderate Buy” and an average price target of $46.71.

Insider Activity

In other news, CAO R Anthony Benten sold 5,171 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total value of $253,275.58. Following the completion of the sale, the chief accounting officer now directly owns 38,576 shares in the company, valued at approximately $1,889,452.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO R Anthony Benten sold 5,171 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total transaction of $253,275.58. Following the transaction, the chief accounting officer now directly owns 38,576 shares of the company’s stock, valued at $1,889,452.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Levien Meredith A. Kopit sold 12,548 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $47.72, for a total value of $598,790.56. Following the completion of the transaction, the chief executive officer now owns 120,072 shares in the company, valued at $5,729,835.84. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

New York Times Profile

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.