Boston Common Asset Management LLC lessened its holdings in The New York Times Company (NYSE:NYT – Get Rating) by 3.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 87,007 shares of the company’s stock after selling 3,577 shares during the quarter. Boston Common Asset Management LLC owned approximately 0.05% of New York Times worth $4,202,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in NYT. State of Michigan Retirement System grew its position in shares of New York Times by 14.2% during the 3rd quarter. State of Michigan Retirement System now owns 41,821 shares of the company’s stock worth $2,061,000 after buying an additional 5,200 shares in the last quarter. Geode Capital Management LLC grew its position in shares of New York Times by 11.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,314,103 shares of the company’s stock worth $114,015,000 after buying an additional 238,848 shares in the last quarter. Douglas Lane & Associates LLC grew its position in shares of New York Times by 6.2% during the 4th quarter. Douglas Lane & Associates LLC now owns 79,738 shares of the company’s stock worth $3,851,000 after buying an additional 4,676 shares in the last quarter. Parallel Advisors LLC grew its position in shares of New York Times by 13.6% during the 4th quarter. Parallel Advisors LLC now owns 4,279 shares of the company’s stock worth $207,000 after buying an additional 511 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of New York Times by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,091,058 shares of the company’s stock worth $53,760,000 after buying an additional 6,346 shares in the last quarter. 92.83% of the stock is currently owned by institutional investors.
NYT has been the subject of a number of analyst reports. Zacks Investment Research cut New York Times from a “hold” rating to a “strong sell” rating and set a $35.00 price objective for the company. in a research note on Thursday, February 3rd. Wolfe Research cut New York Times from an “outperform” rating to a “peer perform” rating and decreased their price objective for the stock from $54.00 to $50.00 in a research note on Monday, December 6th. Finally, StockNews.com started coverage on New York Times in a research note on Thursday. They issued a “hold” rating for the company.
NYT traded up $0.77 during trading on Monday, hitting $46.82. The company’s stock had a trading volume of 580,723 shares, compared to its average volume of 1,482,591. The New York Times Company has a twelve month low of $37.27 and a twelve month high of $56.19. The business’s fifty day simple moving average is $43.50 and its 200 day simple moving average is $46.59. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 36.29 and a beta of 0.81.
New York Times (NYSE:NYT – Get Rating) last released its earnings results on Wednesday, February 2nd. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.08. The business had revenue of $594.23 million for the quarter, compared to the consensus estimate of $579.98 million. New York Times had a return on equity of 15.09% and a net margin of 10.60%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. Equities research analysts forecast that The New York Times Company will post 1.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 21st. Investors of record on Wednesday, April 6th will be given a dividend of $0.09 per share. This is an increase from New York Times’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, April 5th. This represents a $0.36 dividend on an annualized basis and a yield of 0.77%. New York Times’s dividend payout ratio (DPR) is presently 21.71%.
New York Times announced that its Board of Directors has initiated a share buyback program on Wednesday, February 2nd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 2.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other New York Times news, CEO Levien Meredith A. Kopit sold 10,000 shares of New York Times stock in a transaction on Thursday, February 24th. The stock was sold at an average price of $42.78, for a total value of $427,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Diane Brayton sold 9,999 shares of New York Times stock in a transaction on Friday, February 18th. The shares were sold at an average price of $41.44, for a total value of $414,358.56. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
New York Times Company Profile (Get Rating)
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.
