Motley Fool Asset Management LLC Buys 471 Shares of The New York Times Company $NYT

Motley Fool Asset Management LLC increased its stake in shares of The New York Times Company (NYSE:NYT) by 10.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,921 shares of the company’s stock after purchasing an additional 471 shares during the quarter. Motley Fool Asset Management LLC’s holdings in New York Times were worth $275,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in shares of New York Times by 690.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock valued at $42,000 after purchasing an additional 739 shares during the last quarter. WPG Advisers LLC bought a new position in shares of New York Times during the 1st quarter valued at approximately $60,000. UMB Bank n.a. increased its position in shares of New York Times by 79.3% during the 2nd quarter. UMB Bank n.a. now owns 1,675 shares of the company’s stock valued at $94,000 after purchasing an additional 741 shares during the last quarter. Blue Trust Inc. increased its position in shares of New York Times by 20.0% during the 2nd quarter. Blue Trust Inc. now owns 1,769 shares of the company’s stock valued at $99,000 after purchasing an additional 295 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of New York Times during the 1st quarter valued at approximately $115,000. Institutional investors own 95.37% of the company’s stock.

New York Times Trading Up 0.2%

NYT opened at $57.39 on Wednesday. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $62.24. The business’s fifty day simple moving average is $57.62 and its 200-day simple moving average is $55.58. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 1.44 and a beta of 1.16.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The business had revenue of $685.90 million for the quarter, compared to the consensus estimate of $670.22 million. During the same quarter in the prior year, the company earned $0.45 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. New York Times’s dividend payout ratio is presently 37.11%.

Wall Street Analyst Weigh In

NYT has been the topic of several research analyst reports. 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. Guggenheim upped 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a research report on Wednesday, October 8th. Evercore ISI upped 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, Zacks Research downgraded New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.33.

Insiders Place Their Bets

In related news, EVP William Bardeen sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total transaction of $290,200.00. Following the completion of the sale, the executive vice president directly owned 11,243 shares in the company, valued at $652,543.72. This represents a 30.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jacqueline M. Welch sold 5,500 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the sale, the executive vice president owned 14,470 shares of the company’s stock, valued at $868,778.80. This trade represents a 27.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by corporate insiders.

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.