The New York Times Company $NYT Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. cut its stake in The New York Times Company (NYSE:NYT) by 28.0% in the second quarter, HoldingsChannel reports. The fund owned 34,915 shares of the company’s stock after selling 13,584 shares during the period. Johnson Investment Counsel Inc.’s holdings in New York Times were worth $1,955,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in New York Times by 1.2% in the first quarter. Vanguard Group Inc. now owns 15,987,404 shares of the company’s stock valued at $792,975,000 after acquiring an additional 187,056 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in New York Times by 7.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,392,977 shares of the company’s stock valued at $515,492,000 after acquiring an additional 698,433 shares during the period. Baillie Gifford & Co. lifted its holdings in New York Times by 19.0% in the first quarter. Baillie Gifford & Co. now owns 3,018,477 shares of the company’s stock valued at $149,716,000 after acquiring an additional 481,682 shares during the period. Dimensional Fund Advisors LP lifted its holdings in New York Times by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,707,676 shares of the company’s stock valued at $134,292,000 after acquiring an additional 211,062 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in 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 acquiring an additional 714,317 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Stock Performance

NYSE NYT opened at $55.08 on Tuesday. The business has a fifty day moving average price of $58.15 and a 200 day moving average price of $54.92. The New York Times Company has a one year low of $44.83 and a one year high of $62.24. The company has a market cap of $8.97 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.38 and a beta of 1.16.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $685.90 million during the quarter, compared to the consensus estimate of $670.22 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. As a group, sell-side analysts predict that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. New York Times’s dividend payout ratio (DPR) is currently 37.11%.

Insider Transactions at New York Times

In other New York Times news, EVP William Bardeen sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total value of $290,200.00. Following the sale, the executive vice president owned 11,243 shares of the company’s stock, valued at $652,543.72. This trade represents a 30.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jacqueline M. Welch sold 5,500 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the sale, the executive vice president directly owned 14,470 shares in the company, valued at $868,778.80. This represents a 27.54% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NYT shares. Zacks Research downgraded New York Times from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Guggenheim upped their target price on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a research note on Wednesday, October 8th. Barclays set a $52.00 target price on New York Times and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Finally, Morgan Stanley upped their target price on New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, New York Times presently has an average rating of “Moderate Buy” and a consensus target price of $60.33.

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.