The New York Times Company (NYSE:NYT) Stock Position Raised by AIA Group Ltd

AIA Group Ltd lifted its stake in shares of The New York Times Company (NYSE:NYT) by 11.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,535 shares of the company’s stock after purchasing an additional 9,524 shares during the period. AIA Group Ltd’s holdings in New York Times were worth $5,040,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NYT. UMB Bank n.a. raised its holdings in New York Times by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after buying an additional 360 shares during the period. GAMMA Investing LLC lifted its position in shares of New York Times by 129.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after acquiring an additional 792 shares in the last quarter. Signaturefd LLC lifted its position in shares of New York Times by 34.2% in the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after acquiring an additional 432 shares in the last quarter. Blue Trust Inc. boosted its stake in New York Times by 401.8% in the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after purchasing an additional 1,800 shares during the period. Finally, Paladin Wealth LLC purchased a new position in New York Times during the 3rd quarter worth approximately $172,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NYT has been the topic of a number of research analyst reports. Barclays lifted their price target on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.43.

Insider Buying and Selling

In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction on Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the transaction, the chief executive officer now owns 101,772 shares in the company, valued at $5,487,546.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.

New York Times Price Performance

New York Times stock opened at $55.80 on Friday. The New York Times Company has a one year low of $41.55 and a one year high of $57.08. The company’s fifty day moving average price is $54.79 and its two-hundred day moving average price is $52.20. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 33.01 and a beta of 1.02.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. New York Times had a return on equity of 17.95% and a net margin of 11.04%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS. As a group, sell-side analysts anticipate that The New York Times Company will post 1.83 earnings per share for the current year.

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s payout ratio is 30.77%.

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.