Covestor Ltd Reduces Stock Position in The New York Times Company (NYSE:NYT)

Covestor Ltd trimmed its holdings in shares of The New York Times Company (NYSE:NYT) by 11.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,535 shares of the company’s stock after selling 323 shares during the quarter. Covestor Ltd’s holdings in New York Times were worth $141,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NYT. Oak Family Advisors LLC increased its position in New York Times by 2.2% during the second quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock valued at $547,000 after acquiring an additional 231 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in New York Times by 2.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock worth $608,000 after purchasing an additional 247 shares during the period. Hixon Zuercher LLC lifted its stake in New York Times by 2.9% in the third quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock worth $696,000 after purchasing an additional 354 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of New York Times by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the last quarter. Finally, Capital Investment Counsel Inc grew its position in New York Times by 1.7% in the 2nd quarter. Capital Investment Counsel Inc now owns 22,701 shares of the company’s stock valued at $1,163,000 after acquiring an additional 380 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

New York Times Stock Performance

NYT stock opened at $54.87 on Tuesday. The New York Times Company has a one year low of $41.55 and a one year high of $57.08. The firm has a 50-day simple moving average of $54.81 and a two-hundred day simple moving average of $52.41. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 32.47 and a beta of 1.02.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 earnings per share. As a group, equities analysts predict that The New York Times Company will post 1.85 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

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.