Motley Fool Asset Management LLC Boosts Stock Position in The New York Times Company $NYT

Motley Fool Asset Management LLC grew its stake in shares of The New York Times Company (NYSE:NYT) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,921 shares of the company’s stock after buying an additional 471 shares during the period. Motley Fool Asset Management LLC’s holdings in New York Times were worth $275,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Covestor Ltd lifted its position in shares of New York Times by 7.9% during the 1st quarter. Covestor Ltd now owns 2,849 shares of the company’s stock valued at $141,000 after buying an additional 208 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of New York Times by 0.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 54,815 shares of the company’s stock valued at $3,069,000 after buying an additional 271 shares in the last quarter. Valueworks LLC lifted its position in shares of New York Times by 0.3% during the 1st quarter. Valueworks LLC now owns 88,939 shares of the company’s stock valued at $4,411,000 after buying an additional 278 shares in the last quarter. Blue Trust Inc. lifted its position in shares of New York Times by 20.0% during the 2nd quarter. Blue Trust Inc. now owns 1,769 shares of the company’s stock valued at $99,000 after buying an additional 295 shares in the last quarter. Finally, Confluence Wealth Services Inc. lifted its position in shares of New York Times by 1.2% during the 2nd quarter. Confluence Wealth Services Inc. now owns 25,892 shares of the company’s stock valued at $1,449,000 after buying an additional 296 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NYT has been the topic of a number of analyst reports. Zacks Research cut New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Morgan Stanley boosted their price target on New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Barclays set a $52.00 price target on New York Times and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a report on Wednesday, October 8th. Finally, Evercore ISI boosted their price target on New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, New York Times currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

New York Times Price Performance

NYSE:NYT opened at $57.39 on Wednesday. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $62.24. The stock’s 50 day simple moving average is $57.62 and its two-hundred day simple moving average is $55.58. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 1.44 and a beta of 1.16.

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, topping analysts’ consensus estimates of $0.50 by $0.08. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The business had revenue of $685.90 million for the quarter, compared to the consensus estimate of $670.22 million. During the same quarter in the previous year, the company posted $0.45 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. New York Times’s payout ratio is presently 37.11%.

Insider Buying and Selling

In other New York Times news, EVP William Bardeen sold 5,000 shares of New York Times stock in a transaction that occurred on 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. The trade was a 30.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jacqueline M. Welch sold 5,500 shares of New York Times stock in a transaction that occurred on Thursday, August 28th. The stock was 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 approximately $868,778.80. The trade was a 27.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.90% of the company’s stock.

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.