The New York Times Company $NYT Shares Purchased by Hixon Zuercher LLC

Hixon Zuercher LLC boosted its stake in The New York Times Company (NYSE:NYT) by 106.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,330 shares of the company’s stock after buying an additional 14,609 shares during the quarter. Hixon Zuercher LLC’s holdings in New York Times were worth $1,586,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its holdings in shares of New York Times by 690.7% in the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock worth $42,000 after acquiring an additional 739 shares during the last quarter. WPG Advisers LLC purchased a new stake in New York Times during the 1st quarter worth about $60,000. UMB Bank n.a. increased its position in New York Times by 79.3% during the 2nd quarter. UMB Bank n.a. now owns 1,675 shares of the company’s stock worth $94,000 after purchasing an additional 741 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in New York Times in the 1st quarter valued at about $99,000. Finally, Blue Trust Inc. lifted its holdings in New York Times by 20.0% in 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 in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Up 0.2%

Shares of NYT opened at $57.09 on Friday. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $62.24. The company’s fifty day moving average is $57.70 and its two-hundred day moving average is $55.40. The firm has a market cap of $9.29 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 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 during the quarter, compared to the consensus estimate of $670.22 million. During the same period in the prior year, the firm posted $0.45 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities research analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NYT shares. Morgan Stanley lifted their price target on shares of New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Zacks Research lowered shares of New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Barclays set a $52.00 target price on shares of New York Times and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a research note on Saturday. Finally, Evercore ISI raised their price objective on New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, August 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.33.

Insider Activity

In related news, EVP William Bardeen sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total value of $290,200.00. Following the transaction, the executive vice president owned 11,243 shares in the company, valued at approximately $652,543.72. This trade represents a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jacqueline M. Welch sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

New York Times Company 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.