T. Rowe Price Investment Management Inc. Sells 234,452 Shares of The New York Times Company $NYT

T. Rowe Price Investment Management Inc. decreased its stake in The New York Times Company (NYSE:NYT) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,478,896 shares of the company’s stock after selling 234,452 shares during the quarter. T. Rowe Price Investment Management Inc. owned 6.45% of New York Times worth $727,445,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC bought a new position in New York Times during the 1st quarter worth approximately $442,000. Focus Partners Wealth grew its holdings in New York Times by 52.2% during the first quarter. Focus Partners Wealth now owns 11,640 shares of the company’s stock valued at $577,000 after purchasing an additional 3,990 shares during the period. Geneos Wealth Management Inc. increased its stake in New York Times by 690.7% in the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock valued at $42,000 after purchasing an additional 739 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in New York Times in the second quarter worth $306,000. Finally, Cerity Partners LLC raised its holdings in New York Times by 70.2% in the second quarter. Cerity Partners LLC now owns 55,423 shares of the company’s stock worth $3,103,000 after purchasing an additional 22,853 shares during the period. 95.37% of the stock is owned by institutional investors.

More New York Times News

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Zacks highlighted NYT as a strong growth stock, which may reinforce investor confidence in the company’s fundamentals and long-term earnings potential. Here’s Why New York Times Co. (NYT) is a Strong Growth Stock
• Neutral Sentiment: The company continues to publish high-traffic coverage around major events such as the World Cup, politics, and breaking news, which supports reader engagement but does not appear to be a direct catalyst for the stock.
• Neutral Sentiment: Several election-result and live-blog updates could help near-term traffic, but they are generally part of NYT’s normal newsroom output rather than a new business development.
• Negative Sentiment: No major company-specific earnings, guidance, subscription, or advertising updates were reported in the latest headlines, which may leave the stock without a fresh bullish catalyst and allow it to drift lower with broader market sentiment.

Insider Transactions at New York Times

In other news, Director David S. Perpich sold 9,000 shares of New York Times stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $77.06, for a total value of $693,540.00. Following the sale, the director directly owned 28,469 shares in the company, valued at $2,193,821.14. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jacqueline M. Welch sold 4,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total transaction of $296,560.00. Following the completion of the sale, the executive vice president directly owned 23,873 shares in the company, valued at approximately $1,769,944.22. This represents a 14.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 17,121 shares of company stock valued at $1,310,920 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

New York Times Price Performance

NYT stock opened at $73.11 on Friday. The stock has a market capitalization of $11.83 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.54 and a beta of 0.95. The business has a 50-day moving average of $77.20 and a 200-day moving average of $75.20. The New York Times Company has a fifty-two week low of $51.03 and a fifty-two week high of $87.10.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.12. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The business had revenue of $712.24 million during the quarter, compared to the consensus estimate of $699.93 million. During the same period last year, the company earned $0.41 earnings per share. New York Times’s quarterly revenue was up 12.0% on a year-over-year basis. Equities analysts expect that The New York Times Company will post 2.93 EPS for the current year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Wednesday, July 8th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.92 dividend on an annualized basis and a yield of 1.3%. New York Times’s dividend payout ratio is 39.48%.

Wall Street Analyst Weigh In

NYT has been the topic of a number of recent analyst reports. Guggenheim lifted their price target on shares of New York Times from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a research note on Tuesday, April 21st. Bank of America assumed coverage on New York Times in a report on Wednesday, April 22nd. They set a “neutral” rating and a $84.00 target price on the stock. Citigroup boosted their target price on New York Times from $77.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Finally, Evercore restated an “outperform” rating and issued a $92.00 price target on shares of New York Times in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

New York Times Company Profile

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.