Confluence Wealth Services Inc. Has $600,000 Stock Holdings in The New York Times Company (NYSE:NYT)

Confluence Wealth Services Inc. increased its position in The New York Times Company (NYSE:NYTFree Report) by 17.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,555 shares of the company’s stock after purchasing an additional 2,145 shares during the quarter. Confluence Wealth Services Inc.’s holdings in New York Times were worth $600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in shares of New York Times by 2.3% during the 3rd quarter. Fifth Third Bancorp now owns 12,134 shares of the company’s stock valued at $500,000 after purchasing an additional 276 shares in the last quarter. Mariner LLC lifted its holdings in shares of New York Times by 1.0% during the 4th quarter. Mariner LLC now owns 28,504 shares of the company’s stock valued at $925,000 after purchasing an additional 288 shares in the last quarter. BlackDiamond Wealth Management Inc. lifted its holdings in shares of New York Times by 2.4% during the 2nd quarter. BlackDiamond Wealth Management Inc. now owns 14,302 shares of the company’s stock valued at $578,000 after purchasing an additional 331 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of New York Times by 1.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 21,607 shares of the company’s stock valued at $991,000 after purchasing an additional 354 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its stake in New York Times by 31.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,510 shares of the company’s stock valued at $59,000 after acquiring an additional 365 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Trading Down 0.4 %

NYT stock opened at $47.31 on Thursday. The firm has a market capitalization of $7.78 billion, a PE ratio of 40.78 and a beta of 1.11. The New York Times Company has a 1-year low of $32.76 and a 1-year high of $49.54. The business’s 50 day simple moving average is $46.50 and its 200 day simple moving average is $43.55.

New York Times (NYSE:NYTGet Free Report) last posted its earnings results on Wednesday, November 8th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The business had revenue of $598.35 million for the quarter, compared to analyst estimates of $589.49 million. New York Times had a return on equity of 16.22% and a net margin of 8.00%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. As a group, sell-side analysts predict that The New York Times Company will post 1.49 EPS for the current fiscal year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Wednesday, January 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Tuesday, January 2nd. New York Times’s payout ratio is presently 37.93%.

Analysts Set New Price Targets

Several research firms have commented on NYT. Morgan Stanley boosted their target price on New York Times from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, November 9th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.75.

Get Our Latest Stock Report on NYT

New York Times Profile

(Free Report)

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com website.

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Institutional Ownership by Quarter for New York Times (NYSE:NYT)

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