Cerity Partners LLC Acquires 15,265 Shares of The New York Times Company (NYSE:NYT)

Cerity Partners LLC boosted its holdings in shares of The New York Times Company (NYSE:NYT) by 88.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,570 shares of the company’s stock after acquiring an additional 15,265 shares during the period. Cerity Partners LLC’s holdings in New York Times were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its holdings in New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after acquiring an additional 212 shares in the last quarter. Natixis Advisors LLC raised its holdings in New York Times by 1.2% during the fourth quarter. Natixis Advisors LLC now owns 19,187 shares of the company’s stock worth $999,000 after acquiring an additional 228 shares in the last quarter. Snowden Capital Advisors LLC raised its holdings in New York Times by 2.1% during the fourth quarter. Snowden Capital Advisors LLC now owns 14,648 shares of the company’s stock worth $762,000 after acquiring an additional 307 shares in the last quarter. Seeds Investor LLC raised its holdings in New York Times by 5.5% during the fourth quarter. Seeds Investor LLC now owns 7,325 shares of the company’s stock worth $381,000 after acquiring an additional 385 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock worth $25,000 after acquiring an additional 394 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on NYT. Citigroup reiterated a “buy” rating on shares of New York Times in a research note on Thursday, June 12th. Guggenheim upped their target price on New York Times from $53.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, June 2nd. Finally, Wall Street Zen upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.40.

Insider Activity

In other New York Times news, CAO R Anthony Benten sold 1,990 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.75, for a total value of $112,932.50. Following the transaction, the chief accounting officer directly owned 39,685 shares in the company, valued at approximately $2,252,123.75. This trade represents a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Bardeen sold 2,500 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $56.83, for a total transaction of $142,075.00. Following the completion of the transaction, the executive vice president owned 16,727 shares in the company, valued at $950,595.41. The trade was a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,490 shares of company stock valued at $479,728 in the last ninety days. 1.90% of the stock is currently owned by company insiders.

New York Times Stock Performance

Shares of NYT opened at $53.31 on Tuesday. The stock has a market cap of $8.69 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $58.16. The firm’s 50-day simple moving average is $55.48 and its two-hundred day simple moving average is $52.00.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The business had revenue of $635.91 million for the quarter, compared to analysts’ expectations of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share. Equities research analysts predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.35%. New York Times’s payout ratio is 39.13%.

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.