DekaBank Deutsche Girozentrale Buys 4,426 Shares of The New York Times Company (NYSE:NYT)

DekaBank Deutsche Girozentrale lifted its stake in The New York Times Company (NYSE:NYT) by 494.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,322 shares of the company’s stock after acquiring an additional 4,426 shares during the period. DekaBank Deutsche Girozentrale’s holdings in New York Times were worth $267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of New York Times by 129.4% in the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after purchasing an additional 792 shares during the period. Signaturefd LLC raised its holdings in New York Times by 34.2% in the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after acquiring an additional 432 shares during the period. Blue Trust Inc. lifted its position in New York Times by 401.8% during the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after acquiring an additional 1,800 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in New York Times by 84,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock valued at $124,000 after acquiring an additional 2,521 shares during the period. Finally, Bailard Inc. acquired a new stake in shares of New York Times in the second quarter valued at about $205,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 101,772 shares in the company, valued at approximately $5,487,546.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other New York Times news, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total transaction of $109,120.00. Following the sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction 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. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays increased their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.67.

New York Times Trading Down 0.1 %

NYT opened at $54.49 on Friday. The stock’s 50 day simple moving average is $53.95 and its 200-day simple moving average is $49.36. The stock has a market cap of $8.95 billion, a PE ratio of 36.33 and a beta of 1.03. The New York Times Company has a 1 year low of $39.73 and a 1 year high of $56.49.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $624.82 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts forecast that The New York Times Company will post 1.9 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Tuesday, July 9th. New York Times’s payout ratio is 34.67%.

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.