The New York Times Company Plans Quarterly Dividend of $0.23 (NYSE:NYT)

The New York Times Company (NYSE:NYT) declared a quarterly dividend on Friday, June 12th. Shareholders of record on Wednesday, July 8th will be given a dividend of 0.23 per share on Thursday, July 23rd. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, July 8th.

New York Times has raised its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 7 consecutive years. New York Times has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect New York Times to earn $3.22 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 28.6%.

New York Times Price Performance

Shares of NYSE:NYT opened at $73.87 on Monday. The firm has a market capitalization of $11.96 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96. New York Times has a 1 year low of $51.03 and a 1 year high of $87.10. The firm’s 50-day moving average is $75.25 and its two-hundred day moving average is $75.67.

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

Insider Buying and Selling

In other news, EVP William Bardeen sold 4,121 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $77.85, for a total transaction of $320,819.85. Following the transaction, the executive vice president directly owned 14,560 shares in the company, valued at approximately $1,133,496. This trade represents a 22.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jacqueline M. Welch sold 4,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 23,873 shares in the company, valued at approximately $1,769,944.22. This trade represents a 14.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,121 shares of company stock worth $1,310,920 in the last quarter. 1.90% of the stock is owned by insiders.

Institutional Trading of New York Times

A number of large investors have recently bought and sold shares of NYT. Navalign LLC acquired a new stake in New York Times in the fourth quarter valued at about $25,000. Basecamp Wealth Advisors LLC grew its holdings in shares of New York Times by 1,191.7% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 310 shares of the company’s stock worth $26,000 after acquiring an additional 286 shares during the period. Cornerstone Planning Group LLC increased its stake in New York Times by 74.2% in the 4th quarter. Cornerstone Planning Group LLC now owns 446 shares of the company’s stock valued at $32,000 after purchasing an additional 190 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in New York Times during the fourth quarter worth $32,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in New York Times during the fourth quarter worth $34,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.