Truist Financial Corp Has $497,000 Stake in The New York Times Company (NYSE:NYT)

Truist Financial Corp increased its holdings in shares of The New York Times Company (NYSE:NYT – Get Rating) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,275 shares of the company’s stock after purchasing an additional 394 shares during the quarter. Truist Financial Corp’s holdings in New York Times were worth $497,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NYT. JPMorgan Chase & Co. boosted its holdings in New York Times by 2.0% during the first quarter. JPMorgan Chase & Co. now owns 302,022 shares of the company’s stock worth $13,845,000 after purchasing an additional 5,921 shares during the last quarter. American Century Companies Inc. raised its position in New York Times by 11.9% during the first quarter. American Century Companies Inc. now owns 17,533 shares of the company’s stock worth $804,000 after acquiring an additional 1,870 shares in the last quarter. HighTower Advisors LLC raised its position in New York Times by 7.8% during the first quarter. HighTower Advisors LLC now owns 5,619 shares of the company’s stock worth $259,000 after acquiring an additional 406 shares in the last quarter. PNC Financial Services Group Inc. raised its position in New York Times by 1.7% during the first quarter. PNC Financial Services Group Inc. now owns 21,607 shares of the company’s stock worth $991,000 after acquiring an additional 354 shares in the last quarter. Finally, Natixis Advisors L.P. bought a new stake in New York Times during the first quarter worth $476,000. Institutional investors and hedge funds own 99.15% of the company’s stock.

New York Times Price Performance

Shares of NYT opened at $34.33 on Tuesday. The firm has a market capitalization of $5.68 billion, a PE ratio of 33.33 and a beta of 1.05. The company’s 50-day moving average is $34.11 and its 200-day moving average is $31.91. The New York Times Company has a fifty-two week low of $27.58 and a fifty-two week high of $47.67.

New York Times (NYSE:NYT – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.15 by $0.06. New York Times had a net margin of 7.74% and a return on equity of 11.76%. The business had revenue of $547.68 million for the quarter, compared to the consensus estimate of $547.11 million. Analysts predict that The New York Times Company will post 1.08 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 19th. Investors of record on Wednesday, January 4th were paid a $0.09 dividend. The ex-dividend date was Tuesday, January 3rd. This represents a $0.36 annualized dividend and a dividend yield of 1.05%. New York Times’s dividend payout ratio (DPR) is presently 34.95%.

Insider Activity at New York Times

In related news, Director David S. Perpich sold 6,478 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $35.71, for a total value of $231,329.38. Following the transaction, the director now directly owns 19,699 shares in the company, valued at $703,451.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TheStreet raised shares of New York Times from a “c+” rating to a “b-” rating in a research report on Monday, December 5th. Morgan Stanley lowered shares of New York Times from an “overweight” rating to an “equal weight” rating and set a $37.00 price target on the stock. in a research report on Friday, December 16th. Finally, StockNews.com initiated coverage on shares of New York Times in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $34.75.

About New York Times

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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.