The New York Times Company $NYT Holdings Lowered by Clark & Stuart Inc

Clark & Stuart Inc reduced its position in The New York Times Company (NYSE:NYT) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 159,022 shares of the company’s stock after selling 925 shares during the period. New York Times accounts for about 6.7% of Clark & Stuart Inc’s holdings, making the stock its largest holding. Clark & Stuart Inc’s holdings in New York Times were worth $8,902,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Confluence Wealth Services Inc. raised its stake in shares of New York Times by 1.2% during the 2nd quarter. Confluence Wealth Services Inc. now owns 25,892 shares of the company’s stock worth $1,449,000 after buying an additional 296 shares during the last quarter. Cullinan Associates Inc. increased its holdings in New York Times by 4.0% during the 2nd quarter. Cullinan Associates Inc. now owns 152,156 shares of the company’s stock valued at $8,518,000 after acquiring an additional 5,884 shares in the last quarter. Copeland Capital Management LLC raised its position in New York Times by 16.1% during the second quarter. Copeland Capital Management LLC now owns 491,100 shares of the company’s stock worth $27,492,000 after acquiring an additional 68,130 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in New York Times by 127.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,058 shares of the company’s stock worth $1,011,000 after acquiring an additional 10,115 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of New York Times by 49.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 195,724 shares of the company’s stock valued at $10,957,000 after purchasing an additional 65,175 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the sale, the executive vice president owned 14,470 shares in the company, valued at approximately $868,778.80. This trade represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Bardeen sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total value of $290,200.00. Following the sale, the executive vice president owned 11,243 shares in the company, valued at approximately $652,543.72. The trade was a 30.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

New York Times Price Performance

NYT opened at $55.63 on Tuesday. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24. The company has a 50 day moving average of $57.87 and a two-hundred day moving average of $54.71. The company has a market cap of $9.06 billion, a P/E ratio of 28.68, a P/E/G ratio of 1.40 and a beta of 1.16.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The business had revenue of $685.90 million for the quarter, compared to analyst estimates of $670.22 million. During the same quarter in the previous year, the business posted $0.45 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. Research analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, October 8th. New York Times’s payout ratio is currently 37.11%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Guggenheim raised their price target on shares of New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Barclays set a $52.00 price objective on shares of New York Times and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Evercore ISI lifted their target price on shares of New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a research note on Saturday, September 27th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.33.

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.