The New York Times Company (NYSE:NYT) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc decreased its holdings in The New York Times Company (NYSE:NYT) by 6.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,301 shares of the company’s stock after selling 1,400 shares during the quarter. Capital Investment Counsel Inc’s holdings in New York Times were worth $1,186,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NYT. Oak Thistle LLC acquired a new position in shares of New York Times during the first quarter valued at approximately $452,000. Cullinan Associates Inc. raised its holdings in shares of New York Times by 10.3% during the first quarter. Cullinan Associates Inc. now owns 195,593 shares of the company’s stock valued at $8,454,000 after acquiring an additional 18,337 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of New York Times by 2.5% during the first quarter. State of Michigan Retirement System now owns 40,216 shares of the company’s stock valued at $1,738,000 after acquiring an additional 1,000 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of New York Times by 2.6% during the first quarter. Principal Financial Group Inc. now owns 616,090 shares of the company’s stock valued at $26,627,000 after acquiring an additional 15,483 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of New York Times by 3.2% during the first quarter. Commonwealth Equity Services LLC now owns 17,222 shares of the company’s stock valued at $744,000 after acquiring an additional 527 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of New York Times stock opened at $54.45 on Thursday. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 33.61 and a beta of 1.03. The New York Times Company has a fifty-two week low of $39.73 and a fifty-two week high of $56.49. The stock has a 50 day moving average of $54.70 and a 200 day moving average of $51.30.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $624.82 million. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. Analysts forecast that The New York Times Company will post 1.83 EPS for the current year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. New York Times’s dividend payout ratio is currently 32.10%.

Insider Transactions at New York Times

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO William Bardeen sold 2,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the sale, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on New York Times in a report on Wednesday, October 9th. They set a “buy” rating and a $65.00 target price for the company. Barclays upped their price target on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.71.

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.