Perigon Wealth Management LLC Buys Shares of 5,006 The New York Times Company (NYSE:NYT)

Perigon Wealth Management LLC bought a new stake in shares of The New York Times Company (NYSE:NYT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,006 shares of the company’s stock, valued at approximately $245,000.

Several other hedge funds have also recently added to or reduced their stakes in NYT. Contravisory Investment Management Inc. bought a new stake in New York Times during the 4th quarter valued at $27,000. Compass Wealth Management LLC bought a new stake in shares of New York Times in the 4th quarter worth $30,000. DekaBank Deutsche Girozentrale bought a new stake in shares of New York Times in the 3rd quarter worth $37,000. Belpointe Asset Management LLC raised its stake in shares of New York Times by 31.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,510 shares of the company’s stock worth $59,000 after buying an additional 365 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of New York Times in the 3rd quarter worth $63,000. Institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In other New York Times news, Director David S. Perpich sold 3,014 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the sale, the director now owns 20,813 shares of the company’s stock, valued at $916,396.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director David S. Perpich sold 3,014 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total transaction of $132,706.42. Following the transaction, the director now directly owns 20,813 shares in the company, valued at $916,396.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 90,759 shares in the company, valued at $4,003,379.49. The disclosure for this sale can be found here. Insiders sold 23,557 shares of company stock valued at $1,029,968 over the last quarter. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup assumed coverage on New York Times in a research note on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective on the stock. Argus raised 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, March 4th. Finally, StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $45.67.

New York Times Stock Down 1.4 %

Shares of NYSE NYT opened at $41.61 on Thursday. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 29.94 and a beta of 1.01. The stock’s fifty day simple moving average is $43.43 and its 200 day simple moving average is $44.69. The New York Times Company has a 52-week low of $35.06 and a 52-week high of $49.87.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.10. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The business had revenue of $676.20 million for the quarter, compared to the consensus estimate of $680.02 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. New York Times’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts anticipate that The New York Times Company will post 1.64 earnings per share for the current year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders 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 dividend yield of 1.25%. This is a boost from New York Times’s previous quarterly dividend of $0.11. New York Times’s payout ratio is currently 37.41%.

New York Times Profile

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.