Federated Hermes Inc. Trims Stock Position in The New York Times Company (NYSE:NYT)

Federated Hermes Inc. trimmed its holdings in The New York Times Company (NYSE:NYT) by 22.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,655 shares of the company’s stock after selling 4,728 shares during the period. Federated Hermes Inc.’s holdings in New York Times were worth $853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale grew its holdings in New York Times by 494.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 5,322 shares of the company’s stock valued at $267,000 after purchasing an additional 4,426 shares during the period. Qsemble Capital Management LP purchased a new stake in shares of New York Times during the 2nd quarter valued at $292,000. American Century Companies Inc. increased its holdings in shares of New York Times by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 128,597 shares of the company’s stock worth $6,585,000 after buying an additional 6,909 shares during the last quarter. AdvisorShares Investments LLC purchased a new position in shares of New York Times in the 2nd quarter worth $513,000. Finally, LGT Fund Management Co Ltd. boosted its holdings in New York Times by 483.2% in the second quarter. LGT Fund Management Co Ltd. now owns 129,108 shares of the company’s stock valued at $6,612,000 after acquiring an additional 106,972 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NYT shares. Barclays raised their price objective on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

New York Times Stock Performance

Shares of NYSE:NYT opened at $54.49 on Monday. The business’s 50-day simple moving average is $53.95 and its 200 day simple moving average is $49.46. The company has a market cap of $8.95 billion, a P/E ratio of 36.33 and a beta of 1.03. The New York Times Company has a one year low of $39.73 and a one year high of $56.49.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.95%. New York Times’s dividend payout ratio is presently 34.67%.

Insider Transactions at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times 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 sale, the chief executive officer now directly owns 101,772 shares in the company, valued at approximately $5,487,546.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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 directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

New York Times 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.