Royal London Asset Management Ltd. Acquires 1,106 Shares of The New York Times Company (NYSE:NYT)

Royal London Asset Management Ltd. boosted its holdings in The New York Times Company (NYSE:NYTFree Report) by 0.2% during the third quarter, HoldingsChannel.com reports. The fund owned 669,268 shares of the company’s stock after purchasing an additional 1,106 shares during the period. Royal London Asset Management Ltd.’s holdings in New York Times were worth $27,577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NYT. Compass Wealth Management LLC bought a new stake in New York Times in the fourth quarter valued at about $30,000. DekaBank Deutsche Girozentrale bought a new stake in New York Times in the third quarter valued at about $37,000. Pinebridge Investments L.P. bought a new stake in New York Times in the second quarter valued at about $39,000. Allspring Global Investments Holdings LLC bought a new stake in New York Times in the second quarter valued at about $56,000. Finally, Belpointe Asset Management LLC increased its stake in New York Times by 31.9% in the first 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 during the period. Institutional investors own 95.37% of the company’s stock.

New York Times Stock Up 0.8 %

Shares of NYT stock opened at $43.34 on Friday. The firm has a fifty day moving average of $46.26 and a 200-day moving average of $44.58. The New York Times Company has a 12-month low of $35.06 and a 12-month high of $49.87. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 31.18 and a beta of 1.02.

New York Times (NYSE:NYTGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.10. The company had revenue of $676.20 million during the quarter, compared to the consensus estimate of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 earnings per share. On average, equities analysts expect that The New York Times Company will post 1.64 EPS for the current year.

New York Times Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, April 1st. This represents a $0.52 dividend on an annualized basis and a yield of 1.20%. This is an increase from New York Times’s previous quarterly dividend of $0.11. New York Times’s dividend payout ratio (DPR) is 31.65%.

Insider Activity at New York Times

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $44.11, for a total value of $597,381.73. Following the completion of the transaction, the chief executive officer now owns 90,759 shares of the company’s stock, valued at $4,003,379.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Levien Meredith A. Kopit sold 13,543 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the sale, the chief executive officer now owns 90,759 shares in the company, valued at approximately $4,003,379.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Diane Brayton sold 7,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the sale, the executive vice president now owns 39,312 shares of the company’s stock, valued at approximately $1,684,126.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,557 shares of company stock valued at $1,029,968. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

NYT has been the topic of a number of analyst reports. StockNews.com cut shares of New York Times from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Monday. Finally, Morgan Stanley upped their price objective on shares of New York Times from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, New York Times presently has an average rating of “Hold” and a consensus target price of $44.40.

View Our Latest Analysis 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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