Kestra Investment Management LLC Sells 7,103 Shares of The New York Times Company $NYT

Kestra Investment Management LLC cut its stake in shares of The New York Times Company (NYSE:NYT) by 30.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,409 shares of the company’s stock after selling 7,103 shares during the period. Kestra Investment Management LLC’s holdings in New York Times were worth $1,045,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NYT. Basecamp Wealth Advisors LLC lifted its stake in New York Times by 1,191.7% in the first quarter. Basecamp Wealth Advisors LLC now owns 310 shares of the company’s stock valued at $26,000 after buying an additional 286 shares during the period. Root Financial Partners LLC acquired a new position in shares of New York Times during the 3rd quarter worth about $41,000. Bessemer Group Inc. grew its position in shares of New York Times by 34.4% during the 1st quarter. Bessemer Group Inc. now owns 687 shares of the company’s stock worth $58,000 after buying an additional 176 shares during the period. Compass Wealth Management LLC bought a new stake in shares of New York Times in the 3rd quarter valued at about $59,000. Finally, Provenance Wealth Advisors LLC bought a new stake in shares of New York Times in the 3rd quarter valued at about $61,000. Institutional investors own 95.37% of the company’s stock.

New York Times Trading Up 0.7%

NYSE:NYT opened at $72.67 on Wednesday. The New York Times Company has a 1 year low of $58.87 and a 1 year high of $87.10. The stock has a market cap of $11.72 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.78 and a beta of 0.89. The stock has a 50-day moving average price of $67.47 and a two-hundred day moving average price of $73.26.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. New York Times had a return on equity of 23.06% and a net margin of 13.41%. The company had revenue of $768.54 million for the quarter, compared to analyst estimates of $767.21 million. During the same quarter last year, the firm posted $0.59 earnings per share. New York Times’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that The New York Times Company will post 2.95 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Investors of record on Wednesday, October 7th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, October 7th. New York Times’s dividend payout ratio is presently 36.80%.

Trending Headlines about New York Times

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

• Positive Sentiment: Zacks characterized NYT as a top long-term growth stock, which may support investor confidence in its growth outlook. Why New York Times Co. (NYT) is a Top Growth Stock for the Long-Term
• Positive Sentiment: A separate report put analysts’ consensus price target at $82.70, indicating generally favorable expectations for the shares. The New York Times Company Stock Has Consensus Price Target of $82.70 According to Analysts
• Neutral Sentiment: Coverage of elevated inflation and possible Federal Reserve rate increases points to a broader market headwind: higher rates can pressure equity valuations, though the article does not identify a specific impact on NYT. Elevated Inflation Keeps Pressure on Fed to Raise Rates

Analysts Set New Price Targets

Several research analysts recently weighed in on NYT shares. Weiss Ratings raised shares of New York Times from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. UBS Group set a $82.00 price objective on shares of New York Times in a report on Tuesday, September 15th. Guggenheim raised shares of New York Times from a “neutral” rating to a “buy” rating and upped their target price for the company from $70.00 to $82.00 in a research note on Tuesday, September 15th. Wall Street Zen lowered shares of New York Times from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, New Street Research set a $82.00 target price on shares of New York Times in a report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $82.80.

New York Times Company Profile

The New York Times Company is a media organization best known for publishing The New York Times, a newspaper founded in 1851. Based in New York City, the company produces journalism on U.S. and international news, politics, business, culture, science and other subjects. Its offerings include print and digital news, games, cooking content, product reviews through Wirecutter, and sports journalism through The Athletic. The company serves readers in the United States and around the world through its digital platforms and print publications.