The New York Times Company (NYSE:NYT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its position in The New York Times Company (NYSE:NYT) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,629 shares of the company’s stock after selling 3,869 shares during the period. Mutual of America Capital Management LLC owned 0.06% of New York Times worth $4,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NYT. Oak Family Advisors LLC increased its holdings in shares of New York Times by 2.2% during the 2nd quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock worth $547,000 after buying an additional 231 shares during the last quarter. Capital Investment Counsel Inc grew its position in New York Times by 1.7% in the second quarter. Capital Investment Counsel Inc now owns 22,701 shares of the company’s stock worth $1,163,000 after acquiring an additional 380 shares during the period. Signaturefd LLC increased its stake in New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after acquiring an additional 432 shares during the last quarter. Commonwealth Equity Services LLC raised its position in New York Times by 3.2% in the first quarter. Commonwealth Equity Services LLC now owns 17,222 shares of the company’s stock valued at $744,000 after purchasing an additional 527 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of New York Times by 9.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,743 shares of the company’s stock valued at $278,000 after purchasing an additional 581 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Stock Performance

Shares of NYT opened at $54.49 on Friday. The company’s 50-day simple moving average is $53.95 and its 200-day simple moving average is $49.41. The New York Times Company has a 1 year low of $39.73 and a 1 year high of $56.49. The stock has a market capitalization of $8.95 billion, a PE ratio of 36.33 and a beta of 1.03.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $625.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. On average, sell-side analysts predict that The New York Times Company will post 1.9 earnings per share for the current year.

New York Times Dividend Announcement

The business also recently declared 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. The ex-dividend date was Tuesday, July 9th. This represents a $0.52 annualized dividend and a yield of 0.95%. New York Times’s dividend payout ratio (DPR) is 34.67%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

NYT has been the topic of several research analyst reports. Barclays boosted their price objective on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, New York Times has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

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.