LGT Group Foundation Has $44.34 Million Stock Holdings in The New York Times Company (NYSE:NYT)

LGT Group Foundation trimmed its stake in The New York Times Company (NYSE:NYT) by 5.1% in the second quarter, HoldingsChannel.com reports. The firm owned 865,764 shares of the company’s stock after selling 46,658 shares during the period. LGT Group Foundation’s holdings in New York Times were worth $44,336,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Oak Family Advisors LLC raised its position in shares of New York Times by 2.2% during the second quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock worth $547,000 after acquiring an additional 231 shares during the last quarter. Capital Investment Counsel Inc lifted its position in shares of New York Times by 1.7% in the 2nd quarter. Capital Investment Counsel Inc now owns 22,701 shares of the company’s stock worth $1,163,000 after purchasing an additional 380 shares during the period. Signaturefd LLC boosted its stake in shares of New York Times by 34.2% in the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after purchasing an additional 432 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of New York Times by 15.9% in the 4th quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock valued at $161,000 after purchasing an additional 451 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of New York Times by 3.2% during the first quarter. Commonwealth Equity Services LLC now owns 17,222 shares of the company’s stock worth $744,000 after buying an additional 527 shares during the period. 95.37% of the stock is owned by institutional investors.

New York Times Stock Performance

New York Times stock traded up $0.09 during mid-day trading on Monday, reaching $53.08. The stock had a trading volume of 64,285 shares, compared to its average volume of 1,146,024. The firm has a market capitalization of $8.72 billion, a PE ratio of 35.33 and a beta of 1.03. The New York Times Company has a fifty-two week low of $39.73 and a fifty-two week high of $56.49. The stock’s 50-day simple moving average is $53.63 and its 200-day simple moving average is $48.72.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The business had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. During the same quarter in the previous year, the business earned $0.38 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts forecast that The New York Times Company will post 1.9 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Tuesday, July 9th. New York Times’s payout ratio is 34.67%.

Insider Buying and Selling at New York Times

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $53.92, for a total value of $986,736.00. Following the transaction, the chief executive officer now owns 101,772 shares in the company, valued at approximately $5,487,546.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other New York Times news, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the transaction, the chief financial officer now directly owns 10,315 shares in the company, valued at $562,786.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Barclays increased their price target on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

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.