The New York Times Company (NYSE:NYT) Holdings Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in The New York Times Company (NYSE:NYT) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,884 shares of the company’s stock after selling 2,543 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of New York Times worth $7,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in New York Times by 129.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after acquiring an additional 792 shares in the last quarter. Signaturefd LLC raised its stake in shares of New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after purchasing an additional 432 shares in the last quarter. Blue Trust Inc. lifted its holdings in New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after purchasing an additional 1,800 shares during the period. Bailard Inc. bought a new position in New York Times in the 2nd quarter valued at about $205,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in New York Times during the 2nd quarter valued at about $206,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Price Performance

NYT stock opened at $55.16 on Friday. The firm has a market cap of $9.06 billion, a PE ratio of 36.77 and a beta of 1.03. The New York Times Company has a 12 month low of $39.73 and a 12 month high of $56.49. The firm has a 50 day simple moving average of $54.23 and a 200 day simple moving average of $50.23.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 EPS. As a group, sell-side analysts expect 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 will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.94%. New York Times’s dividend payout ratio (DPR) is 34.67%.

Insider Buying and Selling

In other New York Times news, CFO William Bardeen sold 2,000 shares of the firm’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 transaction, the chief financial officer now directly owns 10,315 shares in the company, valued at $562,786.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction 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 transaction, the chief executive officer now owns 101,772 shares in the company, valued at approximately $5,487,546.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the transaction, the chief financial officer now directly owns 10,315 shares in the company, valued at $562,786.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on NYT shares. Barclays increased 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. lifted their price target on New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research report 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 company’s stock. Based on data from MarketBeat.com, New York Times has an average rating of “Moderate Buy” and an average 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.