The New York Times Company (NYSE:NYT) Holdings Lifted by Amalgamated Bank

Amalgamated Bank boosted its holdings in The New York Times Company (NYSE:NYT) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,249 shares of the company’s stock after acquiring an additional 1,116 shares during the quarter. Amalgamated Bank owned about 0.07% of New York Times worth $5,254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Covestor Ltd raised its holdings in shares of New York Times by 9.6% in the 3rd quarter. Covestor Ltd now owns 2,659 shares of the company’s stock worth $110,000 after purchasing an additional 232 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of New York Times by 2.3% in the third quarter. Fifth Third Bancorp now owns 12,134 shares of the company’s stock valued at $500,000 after buying an additional 276 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of New York Times by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 70,924 shares of the company’s stock valued at $2,922,000 after acquiring an additional 360 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of New York Times by 1.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 24,576 shares of the company’s stock worth $1,013,000 after acquiring an additional 420 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of New York Times by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 29,091 shares of the company’s stock worth $1,199,000 after acquiring an additional 458 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity at New York Times

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

Analysts Set New Price Targets

NYT has been the subject of several analyst reports. Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Monday, March 4th. Citigroup began coverage on shares of New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price for the company. Finally, StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Three research 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, the company has an average rating of “Moderate Buy” and an average target price of $45.67.

New York Times Price Performance

NYSE:NYT opened at $46.21 on Tuesday. The stock has a market cap of $7.58 billion, a PE ratio of 33.24 and a beta of 1.00. The New York Times Company has a fifty-two week low of $35.06 and a fifty-two week high of $49.87. The stock’s 50-day moving average is $43.37 and its two-hundred day moving average is $44.84.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.10. The firm had revenue of $676.20 million for the quarter, compared to the consensus estimate of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.13%. This is a positive change from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, April 1st. New York Times’s dividend payout ratio (DPR) is currently 37.41%.

About New York Times

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.