Weybosset Research & Management LLC Has $8.88 Million Stock Holdings in The New York Times Company (NYSE:NYT)

Weybosset Research & Management LLC boosted its stake in The New York Times Company (NYSE:NYT) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 225,451 shares of the company’s stock after purchasing an additional 1,900 shares during the quarter. New York Times comprises about 3.3% of Weybosset Research & Management LLC’s holdings, making the stock its 19th biggest position. Weybosset Research & Management LLC owned 0.14% of New York Times worth $8,878,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Compass Wealth Management LLC acquired a new stake in New York Times in the fourth quarter valued at approximately $30,000. Belpointe Asset Management LLC acquired a new stake in New York Times in the fourth quarter valued at approximately $37,000. Machina Capital S.A.S. acquired a new position in shares of New York Times during the first quarter valued at about $43,000. CI Investments Inc. increased its position in shares of 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 acquiring an additional 610 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new stake in shares of New York Times in the 1st quarter worth about $61,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at New York Times

In other New York Times news, EVP Diane Brayton sold 11,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $44.03, for a total transaction of $484,330.00. Following the sale, the executive vice president now directly owns 36,741 shares of the company’s stock, valued at $1,617,706.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other New York Times news, CEO Levien Meredith A. Kopit sold 22,788 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $43.92, for a total transaction of $1,000,848.96. Following the sale, the chief executive officer now owns 104,302 shares in the company, valued at $4,580,943.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Diane Brayton sold 11,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $44.03, for a total value of $484,330.00. Following the sale, the executive vice president now owns 36,741 shares in the company, valued at approximately $1,617,706.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,689 shares of company stock worth $2,233,298. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

New York Times Stock Performance

Shares of NYSE:NYT opened at $42.28 on Tuesday. The company’s 50-day moving average is $42.47 and its 200 day moving average is $39.59. The company has a market capitalization of $6.95 billion, a P/E ratio of 39.89 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.

New York Times (NYSE:NYT) last issued 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. The company 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 firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. As a group, research analysts predict that The New York Times Company will post 1.48 earnings per share for the current year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Tuesday, July 11th were paid a $0.11 dividend. The ex-dividend date was Monday, July 10th. This represents a $0.44 annualized dividend and a yield of 1.04%. New York Times’s payout ratio is 41.51%.

New York Times 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.