Russell Investments Group Ltd. Sells 43,097 Shares of The New York Times Company $NYT

Russell Investments Group Ltd. trimmed its position in shares of The New York Times Company (NYSE:NYT) by 15.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,225 shares of the company’s stock after selling 43,097 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of New York Times worth $11,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. American National Bank & Trust purchased a new position in New York Times in the first quarter worth about $45,000. Putney Financial Group LLC purchased a new position in shares of New York Times in the fourth quarter worth approximately $102,000. Bartlett & CO. Wealth Management LLC purchased a new position in shares of New York Times in the first quarter worth approximately $99,000. Meeder Asset Management Inc. bought a new stake in New York Times during the first quarter valued at approximately $115,000. Finally, Covestor Ltd increased its holdings in New York Times by 7.9% during the first quarter. Covestor Ltd now owns 2,849 shares of the company’s stock valued at $141,000 after buying an additional 208 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at New York Times

In related news, EVP William Bardeen sold 5,000 shares of the business’s 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 directly owned 11,243 shares in the company, valued at approximately $652,543.72. The trade was a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David S. Perpich sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total value of $224,720.00. Following the transaction, the director directly owned 27,569 shares of the company’s stock, valued at approximately $1,548,826.42. The trade was a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,490 shares of company stock valued at $769,928. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup reiterated a “buy” rating on shares of New York Times in a research note on Thursday, June 12th. Guggenheim boosted their price target on New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Evercore ISI lifted their price objective on New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Barclays set a $52.00 target price on shares of New York Times and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Finally, Morgan Stanley raised their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, New York Times currently has an average rating of “Moderate Buy” and an average target price of $60.33.

New York Times Trading Down 1.3%

NYSE NYT opened at $59.37 on Tuesday. The New York Times Company has a 12 month low of $44.83 and a 12 month high of $62.24. The stock has a market cap of $9.68 billion, a PE ratio of 30.60, a P/E/G ratio of 1.52 and a beta of 1.09. The stock’s 50 day moving average is $55.45 and its 200 day moving average is $52.41.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The firm had revenue of $685.90 million for the quarter, compared to analysts’ expectations of $670.22 million. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share. On average, analysts forecast that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. New York Times’s dividend payout ratio (DPR) is presently 37.11%.

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.