The New York Times Company (NYSE:NYT) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its holdings in The New York Times Company (NYSE:NYT) by 6.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 225,175 shares of the company’s stock after selling 14,256 shares during the quarter. Los Angeles Capital Management LLC’s holdings in New York Times were worth $12,535,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. UMB Bank n.a. boosted its holdings in shares of 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 period. GAMMA Investing LLC lifted its stake in New York Times by 129.4% in the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after acquiring an additional 792 shares during the last quarter. Signaturefd LLC lifted its stake in New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after acquiring an additional 432 shares during the last quarter. Blue Trust Inc. lifted its stake in New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Paladin Wealth LLC acquired a new stake in New York Times in the third quarter valued at approximately $172,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Price Performance

Shares of New York Times stock opened at $54.87 on Tuesday. The company’s fifty day moving average price is $54.81 and its two-hundred day moving average price is $52.41. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $57.08. The firm has a market capitalization of $9.01 billion, a PE ratio of 32.47 and a beta of 1.02.

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

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Wednesday, October 9th. New York Times’s payout ratio is 30.77%.

Wall Street Analysts Forecast Growth

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