Principal Financial Group Inc. Has $18.30 Million Stock Position in The New York Times Company (NYSE:NYT)

Principal Financial Group Inc. grew its stake in shares of The New York Times Company (NYSE:NYTGet Rating) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 656,047 shares of the company’s stock after acquiring an additional 88,054 shares during the period. Principal Financial Group Inc.’s holdings in New York Times were worth $18,304,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Stephens Inc. AR lifted its position in New York Times by 1.7% during the first quarter. Stephens Inc. AR now owns 15,683 shares of the company’s stock worth $719,000 after acquiring an additional 267 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in New York Times by 2.3% during the second quarter. Exchange Traded Concepts LLC now owns 14,430 shares of the company’s stock worth $403,000 after acquiring an additional 328 shares during the last quarter. Profund Advisors LLC lifted its position in New York Times by 3.6% during the first quarter. Profund Advisors LLC now owns 9,869 shares of the company’s stock worth $452,000 after acquiring an additional 340 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in New York Times by 1.7% during the first quarter. PNC Financial Services Group Inc. now owns 21,607 shares of the company’s stock worth $991,000 after acquiring an additional 354 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in New York Times by 1.7% during the second quarter. Vontobel Holding Ltd. now owns 22,679 shares of the company’s stock worth $645,000 after acquiring an additional 379 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on NYT. StockNews.com began coverage on shares of New York Times in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley dropped their price target on shares of New York Times from $40.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.93.

New York Times Trading Up 1.5 %

NYSE NYT opened at $35.30 on Wednesday. The New York Times Company has a 1-year low of $27.58 and a 1-year high of $48.61. The company has a 50 day moving average of $30.99 and a 200-day moving average of $31.23. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 34.27 and a beta of 0.96.

New York Times Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 21st. Stockholders of record on Monday, October 10th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.02%. New York Times’s payout ratio is 34.95%.

Insider Activity at New York Times

In related news, Director David S. Perpich sold 6,478 shares of New York Times stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $35.71, for a total value of $231,329.38. Following the transaction, the director now directly owns 19,699 shares of the company’s stock, valued at $703,451.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is currently owned by insiders.

New York Times Company Profile

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The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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Institutional Ownership by Quarter for New York Times (NYSE:NYT)

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