Cerity Partners LLC Makes New $251,000 Investment in The New York Times Company (NYSE:NYT)

Cerity Partners LLC bought a new stake in The New York Times Company (NYSE:NYT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,123 shares of the company’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NYT. Exchange Traded Concepts LLC bought a new position in New York Times during the third quarter worth about $613,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of New York Times by 127.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 41,450 shares of the company’s stock valued at $1,708,000 after purchasing an additional 23,250 shares in the last quarter. Xponance Inc. lifted its holdings in shares of New York Times by 13.0% during the 3rd quarter. Xponance Inc. now owns 22,468 shares of the company’s stock valued at $926,000 after purchasing an additional 2,586 shares in the last quarter. Joel Isaacson & Co. LLC bought a new position in shares of New York Times during the 3rd quarter valued at about $245,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. bought a new position in shares of New York Times during the 3rd quarter valued at about $260,000. Institutional investors own 95.37% of the company’s stock.

New York Times Stock Down 0.2 %

NYSE:NYT opened at $43.17 on Monday. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 31.06 and a beta of 1.01. The New York Times Company has a twelve month low of $35.06 and a twelve month high of $49.87. The stock’s 50 day moving average price is $43.26 and its two-hundred day moving average price is $44.77.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.10. The firm had revenue of $676.20 million for the quarter, compared to analyst estimates of $680.02 million. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. 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 was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 2nd were given a dividend of $0.13 per share. This is a positive change from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date was Monday, April 1st. This represents a $0.52 annualized dividend and a dividend yield of 1.20%. New York Times’s payout ratio is 37.41%.

Insider Buying and Selling

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the transaction, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the transaction, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total value of $299,880.00. Following the transaction, the executive vice president now directly owns 39,312 shares in the company, valued at $1,684,126.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,557 shares of company stock valued at $1,029,968. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup started coverage on New York Times in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective on the stock. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.67.

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.