AE Wealth Management LLC Has $247,000 Stock Holdings in The New York Times Company (NYSE:NYT)

AE Wealth Management LLC trimmed its position in shares of The New York Times Company (NYSE:NYT) by 23.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,979 shares of the company’s stock after selling 1,525 shares during the quarter. AE Wealth Management LLC’s holdings in New York Times were worth $247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in New York Times by 109.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,373 shares of the company’s stock worth $1,259,000 after acquiring an additional 13,248 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of New York Times during the first quarter worth about $250,000. Centiva Capital LP lifted its holdings in shares of New York Times by 58.6% during the 4th quarter. Centiva Capital LP now owns 36,031 shares of the company’s stock valued at $1,875,000 after purchasing an additional 13,311 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of New York Times by 164.0% during the 1st quarter. State of Alaska Department of Revenue now owns 49,119 shares of the company’s stock valued at $2,436,000 after purchasing an additional 30,515 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of New York Times by 123.2% in the 1st quarter. Victory Capital Management Inc. now owns 178,956 shares of the company’s stock valued at $8,876,000 after purchasing an additional 98,789 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity at New York Times

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

New York Times Stock Up 0.9%

NYSE:NYT opened at $51.91 on Friday. The company has a market cap of $8.46 billion, a P/E ratio of 28.21, a price-to-earnings-growth ratio of 1.41 and a beta of 1.11. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $58.16. The business has a 50 day moving average price of $55.02 and a two-hundred day moving average price of $52.03.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $635.91 million during 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 firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Wednesday, July 9th were given a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. New York Times’s payout ratio is currently 39.13%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup restated a “buy” rating on shares of New York Times in a report on Thursday, June 12th. Guggenheim increased their price objective on shares of New York Times from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, June 2nd. Finally, Wall Street Zen raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.40.

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.