The New York Times Company (NYSE:NYT) Holdings Decreased by Cwm LLC

Cwm LLC lowered its stake in shares of The New York Times Company (NYSE:NYT) by 5.5% in the fourth quarter, HoldingsChannel reports. The firm owned 65,616 shares of the company’s stock after selling 3,839 shares during the quarter. Cwm LLC’s holdings in New York Times were worth $3,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in New York Times by 11.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,343 shares of the company’s stock valued at $1,633,000 after purchasing an additional 3,354 shares during the period. Lecap Asset Management Ltd. acquired a new position in New York Times during the 4th quarter worth $763,000. Louisiana State Employees Retirement System acquired a new position in New York Times during the 4th quarter worth $2,254,000. Perigon Wealth Management LLC acquired a new stake in shares of New York Times in the fourth quarter valued at $245,000. Finally, Cerity Partners LLC acquired a new stake in shares of New York Times in the fourth quarter valued at $251,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday, March 4th. Citigroup started coverage on New York Times in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 target price on the stock. Finally, StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, New York Times has a consensus rating of “Moderate Buy” and an average price target of $45.67.

Insider Buying and Selling at New York Times

In other New York Times news, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total value of $299,880.00. Following the transaction, the executive vice president now owns 39,312 shares in the company, valued at $1,684,126.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Diane Brayton sold 7,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the sale, the executive vice president now owns 39,312 shares in the company, valued at approximately $1,684,126.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $44.11, for a total value of $597,381.73. Following the sale, the chief executive officer now owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The disclosure for this sale can be found here. Insiders have sold 23,557 shares of company stock worth $1,029,968 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

New York Times Trading Up 0.2 %

NYSE:NYT opened at $43.30 on Thursday. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 31.15 and a beta of 1.01. The New York Times Company has a 1-year low of $35.06 and a 1-year high of $49.87. The business’s fifty day moving average price is $43.30 and its 200 day moving average price is $44.74.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.10. The firm had revenue of $676.20 million for the quarter, compared to analyst estimates of $680.02 million. New York Times had a return on equity of 16.48% and a net margin of 9.58%. New York Times’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 earnings per share. Equities analysts forecast that The New York Times Company will post 1.64 earnings per share for the current year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 2nd were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.52 dividend on an annualized basis and a yield of 1.20%. This is an increase from New York Times’s previous quarterly dividend of $0.11. New York Times’s payout ratio is 37.41%.

New York Times Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company's mobile application, website, printed newspaper, and associated content, such as podcast.