Cetera Investment Advisers Sells 2,820 Shares of The New York Times Company $NYT

Cetera Investment Advisers reduced its position in The New York Times Company (NYSE:NYT) by 25.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,109 shares of the company’s stock after selling 2,820 shares during the quarter. Cetera Investment Advisers’ holdings in New York Times were worth $402,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS lifted its position in shares of New York Times by 3.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 49,300 shares of the company’s stock valued at $2,445,000 after acquiring an additional 1,600 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of New York Times by 10.5% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 332,479 shares of the company’s stock valued at $16,491,000 after acquiring an additional 31,637 shares during the period. Y Intercept Hong Kong Ltd lifted its position in shares of New York Times by 51.6% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 13,425 shares of the company’s stock valued at $666,000 after acquiring an additional 4,571 shares during the period. Allianz Asset Management GmbH lifted its position in shares of New York Times by 210.7% during the 1st quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company’s stock valued at $79,832,000 after acquiring an additional 1,091,430 shares during the period. Finally, IFP Advisors Inc lifted its position in shares of New York Times by 8.2% during the 1st quarter. IFP Advisors Inc now owns 37,186 shares of the company’s stock valued at $1,844,000 after acquiring an additional 2,818 shares during the period. 95.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of New York Times in a research report on Thursday, June 12th. Guggenheim upped their price objective on shares of New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Evercore ISI upped their price objective on shares of New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Barclays set a $52.00 price objective on shares of New York Times and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Finally, Morgan Stanley upped their price objective on shares of New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.33.

New York Times Price Performance

NYSE NYT opened at $59.37 on Tuesday. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $62.24. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 1.52 and a beta of 1.09. The company has a fifty day moving average price of $55.45 and a 200-day moving average price of $52.41.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The firm had revenue of $685.90 million during the quarter, compared to analyst estimates of $670.22 million. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were paid a $0.18 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. New York Times’s dividend payout ratio is presently 37.11%.

Insider Transactions at New York Times

In related news, Director David S. Perpich sold 4,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total transaction of $224,720.00. Following the completion of the transaction, the director owned 27,569 shares in the company, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Bardeen sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the transaction, the executive vice president owned 11,243 shares of the company’s stock, valued at approximately $652,543.72. The trade was a 30.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,490 shares of company stock worth $769,928 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

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.