FCF Advisors LLC Sells 9,073 Shares of The New York Times Company (NYSE:NYT)

FCF Advisors LLC lessened its position in The New York Times Company (NYSE:NYT) by 50.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,052 shares of the company’s stock after selling 9,073 shares during the period. FCF Advisors LLC’s holdings in New York Times were worth $504,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of New York Times by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,809,453 shares of the company’s stock valued at $774,505,000 after purchasing an additional 80,075 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in shares of New York Times by 18.1% in the first quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after buying an additional 1,711,268 shares during the period. Darsana Capital Partners LP increased its position in shares of New York Times by 25.0% during the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after acquiring an additional 1,250,000 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of New York Times by 19.8% during the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after acquiring an additional 482,200 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in New York Times by 22.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock valued at $124,164,000 after acquiring an additional 438,680 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NYT. JPMorgan Chase & Co. increased their target price on New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Barclays boosted 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Insider Buying and Selling

In other 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 value of $986,736.00. Following the completion of the sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the transaction, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

New York Times Stock Performance

Shares of NYSE NYT opened at $54.91 on Wednesday. The stock has a market capitalization of $9.02 billion, a PE ratio of 36.61 and a beta of 1.03. The New York Times Company has a 52 week low of $39.73 and a 52 week high of $56.49. The stock has a 50 day moving average price of $54.25 and a 200 day moving average price of $50.35.

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

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.95%. New York Times’s dividend payout ratio (DPR) is currently 34.67%.

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.