Northstar Group Inc. Has $213,000 Stock Position in The New York Times Company $NYT

Northstar Group Inc. trimmed its position in The New York Times Company (NYSE:NYT) by 8.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,800 shares of the company’s stock after selling 350 shares during the period. Northstar Group Inc.’s holdings in New York Times were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of New York Times by 109.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,373 shares of the company’s stock worth $1,259,000 after buying an additional 13,248 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of New York Times in the first quarter worth $250,000. State of Alaska Department of Revenue lifted its stake in shares of New York Times by 164.0% in the first quarter. State of Alaska Department of Revenue now owns 49,119 shares of the company’s stock worth $2,436,000 after buying an additional 30,515 shares during the last quarter. Element Capital Management LLC acquired a new stake in shares of New York Times in the first quarter worth $2,742,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of New York Times by 29.2% in the second quarter. Harbor Capital Advisors Inc. now owns 30,808 shares of the company’s stock worth $1,725,000 after buying an additional 6,957 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Price Performance

Shares of New York Times stock opened at $55.69 on Thursday. The firm has a market capitalization of $9.07 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 1.45 and a beta of 1.16. The company’s fifty day moving average price is $57.69 and its two-hundred day moving average price is $54.49. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The firm had revenue of $685.90 million for 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 business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. Analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. New York Times’s dividend payout ratio is presently 37.11%.

Insider Activity

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were 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 approximately $868,778.80. This represents a 27.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William Bardeen sold 5,000 shares of the company’s stock in a transaction dated 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 approximately $652,543.72. The trade was a 30.78% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NYT has been the subject of several research analyst reports. Barclays set a $52.00 target price on shares of New York Times and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Evercore ISI upped their target price on shares of New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Guggenheim upped their target price on shares of New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Morgan Stanley upped their target price on shares of New York Times from $54.00 to $59.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Finally, Citigroup reiterated a “buy” rating on shares of New York Times in a research note on Thursday, June 12th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.33.

About New York Times

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.