Brighton Jones LLC Has $1.05 Million Stake in The New York Times Company $NYT

Brighton Jones LLC lifted its position in The New York Times Company (NYSE:NYT) by 169.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,813 shares of the company’s stock after purchasing an additional 11,827 shares during the quarter. Brighton Jones LLC’s holdings in New York Times were worth $1,053,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its position in New York Times by 690.7% in the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock valued at $42,000 after acquiring an additional 739 shares during the period. WPG Advisers LLC bought a new stake in shares of New York Times during the first quarter worth $60,000. UMB Bank n.a. boosted its holdings in New York Times by 79.3% in the second quarter. UMB Bank n.a. now owns 1,675 shares of the company’s stock valued at $94,000 after acquiring an additional 741 shares during the last quarter. Blue Trust Inc. boosted its holdings in New York Times by 20.0% in the second quarter. Blue Trust Inc. now owns 1,769 shares of the company’s stock valued at $99,000 after acquiring an additional 295 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC bought a new position in New York Times in the first quarter valued at about $99,000. 95.37% of the stock is currently owned by institutional investors.

New York Times Price Performance

NYT opened at $57.41 on Tuesday. The business has a fifty day simple moving average of $57.66 and a 200 day simple moving average of $55.51. The company has a market capitalization of $9.35 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $62.24.

New York Times (NYSE:NYT) last released 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 business had revenue of $685.90 million during the quarter, compared to the consensus estimate of $670.22 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. Equities analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Dividend Announcement

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

Insider Buying and Selling at New York Times

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president owned 14,470 shares of the company’s stock, valued at approximately $868,778.80. The trade was a 27.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Bardeen sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total value of $290,200.00. Following the transaction, the executive vice president directly owned 11,243 shares of the company’s stock, valued at $652,543.72. This trade represents a 30.78% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NYT has been the topic of several analyst reports. Morgan Stanley increased their target price on 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. Guggenheim raised their price target on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a research report on Wednesday, October 8th. Barclays set a $52.00 target price on New York Times and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Finally, Zacks Research lowered New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.33.

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.