Comerica Bank Cuts Stock Holdings in The New York Times Company (NYSE:NYT)

Comerica Bank decreased its holdings in shares of The New York Times Company (NYSE:NYTGet Rating) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 74,660 shares of the company’s stock after selling 1,865 shares during the period. Comerica Bank’s holdings in New York Times were worth $2,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KBC Group NV grew its holdings in shares of New York Times by 1,737.6% during the second quarter. KBC Group NV now owns 27,050 shares of the company’s stock worth $755,000 after purchasing an additional 25,578 shares in the last quarter. Quent Capital LLC lifted its position in New York Times by 138.0% in the 2nd quarter. Quent Capital LLC now owns 10,349 shares of the company’s stock worth $289,000 after buying an additional 6,001 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in New York Times in the 2nd quarter worth approximately $755,000. Millennium Management LLC lifted its position in New York Times by 242.8% in the 2nd quarter. Millennium Management LLC now owns 930,996 shares of the company’s stock worth $25,975,000 after buying an additional 659,430 shares during the last quarter. Finally, BlackDiamond Wealth Management Inc. lifted its position in New York Times by 5.4% in the 3rd quarter. BlackDiamond Wealth Management Inc. now owns 12,420 shares of the company’s stock worth $364,000 after buying an additional 638 shares during the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.

New York Times Stock Performance

Shares of NYT stock opened at $32.81 on Friday. The New York Times Company has a fifty-two week low of $27.58 and a fifty-two week high of $47.67. The stock has a 50 day moving average price of $34.20 and a two-hundred day moving average price of $31.81. The company has a market capitalization of $5.43 billion, a P/E ratio of 31.85 and a beta of 1.05.

New York Times (NYSE:NYTGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.06. New York Times had a return on equity of 11.76% and a net margin of 7.74%. The firm had revenue of $547.68 million during the quarter, compared to the consensus estimate of $547.11 million. As a group, equities analysts predict that The New York Times Company will post 1.08 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 19th. Investors of record on Wednesday, January 4th were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, January 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.10%. New York Times’s dividend payout ratio is presently 34.95%.

Analysts Set New Price Targets

A number of analysts recently weighed in on NYT shares. TheStreet upgraded New York Times from a “c+” rating to a “b-” rating in a research report on Monday, December 5th. StockNews.com started coverage on New York Times in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Morgan Stanley downgraded New York Times from an “overweight” rating to an “equal weight” rating and set a $37.00 target price for the company. in a research report on Friday, December 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.75.

Insider Activity at New York Times

In related news, Director David S. Perpich sold 6,478 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $35.71, for a total transaction of $231,329.38. Following the completion of the transaction, the director now owns 19,699 shares in the company, valued at $703,451.29. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.

New York Times Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding NYT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The New York Times Company (NYSE:NYTGet Rating).

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

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