Savant Capital LLC Acquires 19,500 Shares of The New York Times Company $NYT

Savant Capital LLC raised its stake in The New York Times Company (NYSE:NYT) by 86.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 42,160 shares of the company’s stock after acquiring an additional 19,500 shares during the period. Savant Capital LLC’s holdings in New York Times were worth $2,360,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Hantz Financial Services Inc. raised its holdings in shares of New York Times by 4,591.7% during the second quarter. Hantz Financial Services Inc. now owns 563 shares of the company’s stock worth $32,000 after acquiring an additional 551 shares during the period. Geneos Wealth Management Inc. increased its holdings in New York Times by 690.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock worth $42,000 after purchasing an additional 739 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of New York Times in the 1st quarter valued at about $60,000. UMB Bank n.a. lifted its holdings in shares of New York Times by 79.3% in the second quarter. UMB Bank n.a. now owns 1,675 shares of the company’s stock valued at $94,000 after purchasing an additional 741 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of New York Times by 20.0% during the second quarter. Blue Trust Inc. now owns 1,769 shares of the company’s stock worth $99,000 after buying an additional 295 shares during the period. Institutional investors own 95.37% of the company’s stock.

New York Times Trading Up 2.2%

NYSE:NYT opened at $62.69 on Tuesday. The stock has a market capitalization of $10.21 billion, a PE ratio of 32.31, a P/E/G ratio of 1.41 and a beta of 1.14. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $62.76. The firm has a fifty day simple moving average of $57.39 and a 200 day simple moving average of $56.20.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The firm had revenue of $700.82 million during the quarter, compared to analysts’ expectations of $692.01 million. During the same quarter last year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. New York Times’s dividend payout ratio (DPR) is presently 35.12%.

Insiders Place Their Bets

In other New York Times news, EVP Jacqueline M. Welch sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the sale, the executive vice president owned 14,470 shares in the company, valued at $868,778.80. This represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NYT has been the topic of a number of recent research reports. Barclays lifted their target price on New York Times from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Zacks Research downgraded shares of New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. JPMorgan Chase & Co. increased their target price on shares of New York Times from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Morgan Stanley raised their target price on shares of New York Times from $59.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.17.

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.