1,166,071 Shares in The New York Times Company (NYSE:NYT) Bought by Independent Franchise Partners LLP

Independent Franchise Partners LLP purchased a new stake in The New York Times Company (NYSE:NYT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,166,071 shares of the company’s stock, valued at approximately $45,337,000. New York Times comprises approximately 0.4% of Independent Franchise Partners LLP’s holdings, making the stock its 23rd largest position.

A number of other institutional investors have also recently made changes to their positions in the stock. Mariner LLC grew its position in shares of New York Times by 1.0% in the 4th quarter. Mariner LLC now owns 28,504 shares of the company’s stock valued at $925,000 after buying an additional 288 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of New York Times by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,056 shares of the company’s stock valued at $618,000 after buying an additional 302 shares during the last quarter. Pictet Asset Management SA grew its position in shares of New York Times by 1.1% in the 1st quarter. Pictet Asset Management SA now owns 29,633 shares of the company’s stock valued at $1,152,000 after buying an additional 321 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of New York Times by 1.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,607 shares of the company’s stock valued at $991,000 after buying an additional 354 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of New York Times by 8.3% in the 1st quarter. Parallel Advisors LLC now owns 4,740 shares of the company’s stock valued at $184,000 after buying an additional 365 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Insider Transactions at New York Times

In other news, CAO R Anthony Benten sold 8,401 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $44.30, for a total value of $372,164.30. Following the completion of the sale, the chief accounting officer now directly owns 41,575 shares of the company’s stock, valued at $1,841,772.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO R Anthony Benten sold 8,401 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $44.30, for a total transaction of $372,164.30. Following the completion of the sale, the chief accounting officer now directly owns 41,575 shares of the company’s stock, valued at $1,841,772.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 22,788 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $43.92, for a total value of $1,000,848.96. Following the sale, the chief executive officer now directly owns 104,302 shares of the company’s stock, valued at $4,580,943.84. The disclosure for this sale can be found here. Insiders sold a total of 50,689 shares of company stock valued at $2,233,298 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on New York Times from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, August 9th. Barclays upped their target price on New York Times from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 9th. StockNews.com lowered New York Times from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Guggenheim upped their target price on New York Times from $37.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 10th. Finally, Morgan Stanley upped their target price on New York Times from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.00.

New York Times Trading Up 0.0 %

NYT stock traded up $0.02 during trading on Monday, reaching $44.29. 901,100 shares of the stock were exchanged, compared to its average volume of 1,033,883. The firm’s 50 day moving average is $41.55 and its 200 day moving average is $39.26. The New York Times Company has a twelve month low of $27.58 and a twelve month high of $45.30. The firm has a market cap of $7.28 billion, a P/E ratio of 41.78 and a beta of 1.02.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. New York Times had a return on equity of 14.81% and a net margin of 7.45%. The business had revenue of $590.85 million for the quarter, compared to the consensus estimate of $580.56 million. During the same period in the prior year, the business earned $0.24 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, analysts predict that The New York Times Company will post 1.48 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Tuesday, July 11th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Monday, July 10th. New York Times’s dividend payout ratio (DPR) is presently 41.51%.

New York Times Company Profile

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.