Focus Partners Advisor Solutions LLC Acquires 7,727 Shares of The New York Times Company $NYT

Focus Partners Advisor Solutions LLC lifted its holdings in The New York Times Company (NYSE:NYT) by 161.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,515 shares of the company’s stock after buying an additional 7,727 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in New York Times were worth $701,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of New York Times by 109.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,373 shares of the company’s stock valued at $1,259,000 after acquiring an additional 13,248 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of New York Times during the first quarter valued at $250,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of New York Times by 49.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 195,724 shares of the company’s stock valued at $10,957,000 after acquiring an additional 65,175 shares during the period. First Citizens Bank & Trust Co. lifted its stake in shares of New York Times by 264.0% during the second quarter. First Citizens Bank & Trust Co. now owns 16,951 shares of the company’s stock valued at $949,000 after acquiring an additional 12,294 shares during the period. Finally, Element Capital Management LLC acquired a new position in shares of New York Times during the first quarter valued at $2,742,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

NYT has been the topic of several research reports. Evercore ISI upped their price target on New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a research note on Wednesday, October 8th. Guggenheim increased their target price on New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Zacks Research lowered New York Times from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Barclays set a $52.00 target price on New York Times and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

New York Times Trading Up 0.2%

NYSE:NYT opened at $57.39 on Wednesday. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $62.24. The business’s 50-day moving average price is $57.62 and its two-hundred day moving average price is $55.58. The firm 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 announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company 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 company earned $0.45 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts predict that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

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

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.