Hixon Zuercher LLC Raises Position in The New York Times Company $NYT

Hixon Zuercher LLC lifted its stake in shares of The New York Times Company (NYSE:NYT) by 106.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 28,330 shares of the company’s stock after acquiring an additional 14,609 shares during the period. Hixon Zuercher LLC’s holdings in New York Times were worth $1,586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NYT. Geneos Wealth Management Inc. grew its position in New York Times by 690.7% in the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock valued at $42,000 after acquiring an additional 739 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of New York Times during the first quarter worth $60,000. UMB Bank n.a. boosted its stake in shares of New York Times by 79.3% in the second quarter. UMB Bank n.a. now owns 1,675 shares of the company’s stock valued at $94,000 after purchasing an additional 741 shares during the period. Blue Trust Inc. grew its holdings in 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 purchasing an additional 295 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in New York Times during the 1st quarter worth $99,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of NYT stock opened at $57.09 on Friday. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 1.44 and a beta of 1.16. The New York Times Company has a one year low of $44.83 and a one year high of $62.24. The company’s 50-day simple moving average is $57.70 and its 200-day simple moving average is $55.40.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $685.90 million during the quarter, compared to analyst estimates of $670.22 million. During the same period in the previous year, the company earned $0.45 earnings per share. New York Times’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The company also recently declared 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. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, October 8th. New York Times’s dividend payout ratio is currently 37.11%.

Insider Activity at New York Times

In related news, EVP William Bardeen sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total transaction of $290,200.00. Following the transaction, the executive vice president directly owned 11,243 shares in the company, valued at $652,543.72. This trade represents a 30.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jacqueline M. Welch sold 5,500 shares of New York Times stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the completion of the transaction, the executive vice president directly owned 14,470 shares of the company’s stock, valued at approximately $868,778.80. This represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of New York Times in a report on Saturday. Zacks Research cut New York Times from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Guggenheim increased 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 raised their price objective on New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Barclays set a $52.00 price objective on New York Times and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.33.

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.