Reynders McVeigh Capital Management LLC Reduces Stake in The New York Times Company (NYSE:NYT)

Reynders McVeigh Capital Management LLC lessened its stake in shares of The New York Times Company (NYSE:NYT) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 558,620 shares of the company’s stock after selling 11,866 shares during the quarter. New York Times comprises about 1.6% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. Reynders McVeigh Capital Management LLC owned about 0.34% of New York Times worth $31,098,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NYT. Darsana Capital Partners LP boosted its holdings in New York Times by 25.0% in the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock valued at $320,062,000 after acquiring an additional 1,250,000 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of New York Times by 19.8% during the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after acquiring an additional 482,200 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of New York Times by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after acquiring an additional 438,680 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of New York Times by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,862,569 shares of the company’s stock worth $103,689,000 after acquiring an additional 7,654 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of New York Times by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 1,660,015 shares of the company’s stock worth $85,009,000 after acquiring an additional 19,196 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NYT. Deutsche Bank Aktiengesellschaft lifted their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays lifted their price target on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.83.

New York Times Trading Down 0.4 %

Shares of NYSE NYT opened at $53.94 on Wednesday. The stock has a 50 day simple moving average of $54.78 and a 200-day simple moving average of $53.35. The company has a market cap of $8.84 billion, a PE ratio of 31.92, a P/E/G ratio of 1.72 and a beta of 1.00. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $57.08.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts forecast that The New York Times Company will post 1.84 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.96%. New York Times’s payout ratio is 30.77%.

About New York Times

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.