Stifel Financial Corp Sells 2,316 Shares of The New York Times Company (NYSE:NYT)

Stifel Financial Corp lowered its position in shares of The New York Times Company (NYSE:NYT) by 7.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,549 shares of the company’s stock after selling 2,316 shares during the period. Stifel Financial Corp’s holdings in New York Times were worth $1,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. raised its holdings in shares of New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares in the last quarter. Signaturefd LLC increased its position in shares of New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after purchasing an additional 432 shares during the last quarter. GAMMA Investing LLC raised its stake in New York Times by 49.7% in the third quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock valued at $117,000 after purchasing an additional 698 shares in the last quarter. Paladin Wealth LLC bought a new stake in New York Times during the third quarter valued at approximately $172,000. Finally, Empower Advisory Group LLC purchased a new position in New York Times in the 3rd quarter worth approximately $205,000. Institutional investors own 95.37% of the company’s stock.

New York Times Stock Down 0.8 %

NYSE NYT opened at $52.87 on Friday. The company has a 50-day simple moving average of $54.69 and a two-hundred day simple moving average of $53.76. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $58.16. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 1.75 and a beta of 1.00.

New York Times (NYSE:NYT) last issued its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. New York Times’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 EPS. Equities analysts expect that The New York Times Company will post 1.84 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 9th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, January 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.98%. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NYT. Deutsche Bank Aktiengesellschaft raised their price objective on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.83.

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.