First Hawaiian Bank Has $247,000 Stock Holdings in The New York Times Company (NYSE:NYT)

First Hawaiian Bank lowered its holdings in shares of The New York Times Company (NYSE:NYT) by 5.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,828 shares of the company’s stock after selling 301 shares during the period. First Hawaiian Bank’s holdings in New York Times were worth $247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC acquired a new position in New York Times during the fourth quarter worth about $31,000. TFO Wealth Partners LLC grew its holdings in shares of 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 valued at $124,000 after purchasing an additional 2,521 shares during the last quarter. Quadrant Capital Group LLC increased its position 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 purchasing an additional 451 shares in the last quarter. Boston Family Office LLC bought a new position in New York Times in the 4th quarter valued at approximately $206,000. Finally, Aigen Investment Management LP bought a new position in New York Times in the 4th quarter valued at approximately $212,000. 95.37% of the stock is currently owned by institutional investors.

New York Times Stock Performance

Shares of NYSE:NYT traded up $1.12 during mid-day trading on Tuesday, reaching $52.22. 675,989 shares of the company’s stock were exchanged, compared to its average volume of 1,198,464. The New York Times Company has a twelve month low of $39.73 and a twelve month high of $55.63. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 34.53 and a beta of 1.06. The business’s fifty day moving average price is $51.73 and its 200-day moving average price is $47.40.

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

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.52 annualized dividend and a yield of 1.00%. New York Times’s payout ratio is 34.67%.

Analysts Set New Price Targets

Separately, Evercore ISI upped their price target on shares of New York Times from $50.00 to $53.00 and gave the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Insider Transactions at New York Times

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

New York Times Company 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.