The New York Times Company (NYSE:NYT) Shares Acquired by Quent Capital LLC

Quent Capital LLC increased its position in shares of The New York Times Company (NYSE:NYT) by 3.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,201 shares of the company’s stock after buying an additional 701 shares during the period. Quent Capital LLC’s holdings in New York Times were worth $914,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Compass Wealth Management LLC acquired a new position in shares of New York Times during the 4th quarter worth about $30,000. Machina Capital S.A.S. acquired a new position in New York Times in the first quarter valued at approximately $43,000. Belpointe Asset Management LLC acquired a new position in New York Times in the fourth quarter valued at approximately $37,000. Toronto Dominion Bank purchased a new position in New York Times in the first quarter valued at approximately $61,000. Finally, CI Investments Inc. raised its holdings in New York Times by 56.1% during the fourth quarter. CI Investments Inc. now owns 1,698 shares of the company’s stock worth $55,000 after purchasing an additional 610 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NYT. JPMorgan Chase & Co. upped their target price on shares of New York Times from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. Guggenheim raised their price objective on New York Times from $37.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, August 10th. Morgan Stanley boosted their target price on New York Times from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, August 9th. Barclays raised their price target on New York Times from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 9th. Finally, StockNews.com lowered New York Times from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.00.

New York Times Trading Down 2.0 %

Shares of NYT traded down $0.86 during mid-day trading on Friday, hitting $42.45. 2,420,679 shares of the company’s stock were exchanged, compared to its average volume of 871,699. The firm has a market capitalization of $6.98 billion, a P/E ratio of 40.03 and a beta of 1.02. The New York Times Company has a fifty-two week low of $27.58 and a fifty-two week high of $45.30. The business’s 50 day moving average is $42.44 and its two-hundred day moving average is $39.56.

New York Times (NYSE:NYT) last issued its earnings results on Tuesday, August 8th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. The business had revenue of $590.85 million for the quarter, compared to the consensus estimate of $580.56 million. New York Times had a net margin of 7.45% and a return on equity of 14.81%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, equities research analysts forecast that The New York Times Company will post 1.48 earnings per share for the current year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Tuesday, July 11th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Monday, July 10th. New York Times’s dividend payout ratio (DPR) is 41.51%.

Insider Activity

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

About New York Times

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.