MML Investors Services LLC Decreases Holdings in The New York Times Company (NYSE:NYT)

MML Investors Services LLC trimmed its holdings in shares of The New York Times Company (NYSE:NYT) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,602 shares of the company’s stock after selling 522 shares during the period. MML Investors Services LLC’s holdings in New York Times were worth $201,000 at the end of the most recent reporting period.

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

New York Times Stock Performance

NYSE NYT opened at $53.58 on Friday. The company has a market cap of $8.78 billion, a PE ratio of 31.70, a P/E/G ratio of 1.75 and a beta of 1.00. The firm’s 50 day moving average price is $54.55 and its 200-day moving average price is $53.81. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16.

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

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.97%. New York Times’s payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target 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. upped their price objective on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

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.