Moloney Securities Asset Management LLC Boosts Stake in The New York Times Company (NYSE:NYT)

Moloney Securities Asset Management LLC raised its position in The New York Times Company (NYSE:NYT) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,696 shares of the company’s stock after purchasing an additional 434 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in New York Times were worth $1,041,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farallon Capital Management LLC raised its position in New York Times by 18.1% in the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock worth $483,548,000 after purchasing an additional 1,711,268 shares during the period. Darsana Capital Partners LP raised its position in New York Times by 25.0% in the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after purchasing an additional 1,250,000 shares during the period. Renaissance Technologies LLC raised its position in New York Times by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after purchasing an additional 482,200 shares during the period. Dimensional Fund Advisors LP grew its stake in New York Times by 22.1% in the 2nd 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 in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in New York Times by 1.2% in the 2nd 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 in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the transaction, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the transaction, the chief financial officer now owns 10,315 shares of the company’s stock, valued at $562,786.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

New York Times Stock Up 1.5 %

Shares of NYT opened at $53.25 on Wednesday. The company has a market cap of $8.75 billion, a price-to-earnings ratio of 32.87 and a beta of 1.02. The New York Times Company has a twelve month low of $41.02 and a twelve month high of $57.08. The company has a 50 day moving average of $54.74 and a two-hundred day moving average of $52.14.

New York Times (NYSE:NYT) last announced its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. New York Times had a net margin of 10.81% and a return on equity of 17.45%. New York Times’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share. On average, sell-side analysts expect that The New York Times Company will post 1.83 EPS for the current year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.13 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.98%. New York Times’s dividend payout ratio is currently 32.10%.

Analyst Ratings Changes

A number of brokerages have commented on NYT. Deutsche Bank Aktiengesellschaft upped their target price on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays upped their target price on shares of 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. upped their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, New York Times has a consensus rating of “Moderate Buy” and an average target price of $53.43.

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.