Bank of Montreal Can Trims Stake in The New York Times Company (NYSE:NYT)

Bank of Montreal Can trimmed its holdings in shares of The New York Times Company (NYSE:NYT) by 63.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 97,032 shares of the company’s stock after selling 169,047 shares during the period. Bank of Montreal Can’s holdings in New York Times were worth $5,368,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the last quarter. GAMMA Investing LLC lifted its stake in New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after purchasing an additional 792 shares during the last quarter. Signaturefd LLC lifted its stake in New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after purchasing an additional 432 shares during the last quarter. Blue Trust Inc. lifted its stake in New York Times by 401.8% during the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Paladin Wealth LLC bought a new stake in New York Times during the third quarter worth about $172,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Price Performance

Shares of NYSE:NYT opened at $53.94 on Wednesday. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $57.08. The company has a market cap of $8.84 billion, a PE ratio of 31.92, a P/E/G ratio of 1.72 and a beta of 1.00. The stock’s 50-day moving average is $54.78 and its 200 day moving average is $53.35.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The company had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. During the same quarter in the previous year, the business earned $0.37 EPS. New York Times’s revenue was up 7.0% compared to the same quarter last year. Analysts expect that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.96%. New York Times’s dividend payout ratio is presently 30.77%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NYT shares. JPMorgan Chase & Co. lifted their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price 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. Finally, Barclays boosted their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, New York Times has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

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.