Principal Financial Group Inc. Has $21.06 Million Stock Holdings in The New York Times Company (NYSE:NYT)

Principal Financial Group Inc. decreased its position in shares of The New York Times Company (NYSE:NYT) by 30.5% in the third quarter, Holdings Channel.com reports. The firm owned 378,353 shares of the company’s stock after selling 166,004 shares during the period. Principal Financial Group Inc.’s holdings in New York Times were worth $21,063,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NYT. Bank of New York Mellon Corp lifted its holdings in shares of New York Times by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,660,015 shares of the company’s stock valued at $85,009,000 after buying an additional 19,196 shares during the last quarter. Bailard Inc. acquired a new stake in New York Times in the second quarter valued at approximately $205,000. Signaturefd LLC grew its position in New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after acquiring an additional 432 shares in the last quarter. Moloney Securities Asset Management LLC acquired a new position in shares of New York Times during the 2nd quarter worth $935,000. Finally, Hixon Zuercher LLC bought a new position in shares of New York Times during the 2nd quarter valued at $622,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Price Performance

Shares of NYT opened at $53.37 on Thursday. The company has a market capitalization of $8.75 billion, a P/E ratio of 31.58, a PEG ratio of 1.75 and a beta of 1.00. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The business’s 50 day simple moving average is $54.59 and its 200-day simple moving average is $53.82.

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 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 analyst estimates of $641.00 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.97%. New York Times’s payout ratio is 30.77%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NYT. JPMorgan Chase & Co. increased their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.