Cwm LLC Lowers Stock Position in The New York Times Company (NYSE:NYT)

Cwm LLC lessened its holdings in The New York Times Company (NYSE:NYT) by 5.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 65,616 shares of the company’s stock after selling 3,839 shares during the period. Cwm LLC’s holdings in New York Times were worth $3,215,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in New York Times by 11.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,343 shares of the company’s stock valued at $1,633,000 after acquiring an additional 3,354 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in New York Times during the 4th quarter valued at approximately $763,000. Louisiana State Employees Retirement System acquired a new position in New York Times during the 4th quarter valued at approximately $2,254,000. Perigon Wealth Management LLC acquired a new position in New York Times during the 4th quarter valued at approximately $245,000. Finally, Cerity Partners LLC acquired a new position in New York Times during the 4th quarter valued at approximately $251,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the sale, the chief executive officer now directly owns 90,759 shares in the company, valued at $4,003,379.49. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other New York Times news, Director David S. Perpich sold 3,014 shares of New York Times stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total transaction of $132,706.42. Following the completion of the sale, the director now directly owns 20,813 shares in the company, valued at $916,396.39. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of New York Times stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the sale, the chief executive officer now owns 90,759 shares of the company’s stock, valued at $4,003,379.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,557 shares of company stock worth $1,029,968. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Argus upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, March 4th. Finally, Citigroup initiated coverage on shares of New York Times in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.67.

New York Times Stock Performance

NYT stock opened at $43.30 on Thursday. The firm has a market cap of $7.11 billion, a PE ratio of 31.15 and a beta of 1.01. The firm’s fifty day moving average is $43.30 and its 200 day moving average is $44.74. The New York Times Company has a one year low of $35.06 and a one year high of $49.87.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.60 by $0.10. The company had revenue of $676.20 million for the quarter, compared to analyst estimates of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $0.65 earnings per share. Research analysts predict that The New York Times Company will post 1.64 earnings per share for the current fiscal year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were given a dividend of $0.13 per share. This is a boost from New York Times’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Monday, April 1st. New York Times’s dividend payout ratio (DPR) is presently 37.41%.

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.