12,142 Shares in The New York Times Company (NYSE:NYT) Purchased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. bought a new position in The New York Times Company (NYSE:NYT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,142 shares of the company’s stock, valued at approximately $602,000.

Several other large investors also recently modified their holdings of NYT. American National Bank & Trust bought a new stake in shares of New York Times in the first quarter worth about $45,000. Bessemer Group Inc. grew its stake in shares of New York Times by 12.6% in the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after purchasing an additional 212 shares during the last quarter. Bartlett & CO. Wealth Management LLC bought a new stake in New York Times during the 1st quarter valued at approximately $99,000. Putney Financial Group LLC bought a new stake in New York Times during the 4th quarter valued at approximately $102,000. Finally, Meeder Asset Management Inc. bought a new stake in New York Times during the 1st quarter valued at approximately $115,000. 95.37% of the stock is owned by institutional investors.

New York Times Stock Down 0.7%

Shares of NYSE NYT opened at $60.18 on Friday. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $62.24. The firm has a market cap of $9.81 billion, a P/E ratio of 31.02, a PEG ratio of 1.53 and a beta of 1.09. The company has a 50 day moving average of $55.29 and a 200 day moving average of $52.36.

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

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Wednesday, July 9th were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. New York Times’s payout ratio is currently 37.11%.

Analysts Set New Price Targets

Several analysts have weighed in on NYT shares. Citigroup reaffirmed a “buy” rating on shares of New York Times in a research report on Thursday, June 12th. Morgan Stanley lifted their price objective on New York Times from $54.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Barclays set a $52.00 price objective on New York Times and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Evercore ISI lifted their price objective on New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, Guggenheim lifted their price objective on New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.33.

Insider Buying and Selling at New York Times

In other New York Times news, Director David S. Perpich sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total transaction of $224,720.00. Following the completion of the sale, the director directly owned 27,569 shares in the company, valued at approximately $1,548,826.42. The trade was a 12.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO R Anthony Benten sold 1,990 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $56.75, for a total transaction of $112,932.50. Following the sale, the chief accounting officer owned 39,685 shares of the company’s stock, valued at approximately $2,252,123.75. This represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,490 shares of company stock worth $769,928. Insiders own 1.90% of the company’s stock.

New York Times 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.