The New York Times Company $NYT Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in The New York Times Company (NYSE:NYT) by 8.9% in the 2nd quarter, Holdings Channel reports. The firm owned 209,714 shares of the company’s stock after selling 20,511 shares during the quarter. Russell Investments Group Ltd.’s holdings in New York Times were worth $11,730,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 buying an additional 187,056 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of New York Times by 7.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,392,977 shares of the company’s stock worth $515,492,000 after acquiring an additional 698,433 shares during the period. Geode Capital Management LLC grew its holdings in shares of New York Times by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,826,905 shares of the company’s stock worth $214,257,000 after acquiring an additional 46,249 shares during the period. Dimensional Fund Advisors LP increased its stake in New York Times by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,707,676 shares of the company’s stock valued at $134,292,000 after purchasing an additional 211,062 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in New York Times by 37.4% during the first quarter. Alliancebernstein L.P. now owns 2,622,794 shares of the company’s stock worth $130,091,000 after purchasing an additional 714,317 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on NYT shares. Morgan Stanley upped their target price on New York Times from $59.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Barclays increased their price objective on shares of New York Times from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Guggenheim lifted their target price on shares of New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Zacks Research cut shares of New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of New York Times from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, New York Times has a consensus rating of “Moderate Buy” and an average price target of $63.57.

New York Times Trading Up 0.5%

New York Times stock opened at $64.80 on Tuesday. The stock has a 50-day moving average price of $59.03 and a 200 day moving average price of $57.38. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $65.32. The stock has a market cap of $10.52 billion, a PE ratio of 33.40, a P/E/G ratio of 1.41 and a beta of 1.14.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The company had revenue of $700.82 million for the quarter, compared to analyst estimates of $692.01 million. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. On average, equities analysts predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. New York Times’s dividend payout ratio (DPR) is 35.12%.

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.