Deutsche Bank AG Sells 448 Shares of The New York Times Company $NYT

Deutsche Bank AG reduced its stake in shares of The New York Times Company (NYSE:NYT) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,001 shares of the company’s stock after selling 448 shares during the quarter. Deutsche Bank AG’s holdings in New York Times were worth $1,587,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NYT. LPL Financial LLC grew its stake in shares of New York Times by 11.7% during the fourth quarter. LPL Financial LLC now owns 8,164 shares of the company’s stock valued at $425,000 after buying an additional 858 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of New York Times during the fourth quarter valued at about $1,544,000. Canada Pension Plan Investment Board bought a new stake in shares of New York Times in the fourth quarter worth about $250,000. First Trust Advisors LP grew its stake in shares of New York Times by 95.2% in the fourth quarter. First Trust Advisors LP now owns 196,571 shares of the company’s stock worth $10,232,000 after purchasing an additional 95,852 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in New York Times by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,496,614 shares of the company’s stock valued at $129,954,000 after purchasing an additional 145,997 shares during the period. 95.37% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP William Bardeen sold 5,000 shares of New York Times stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the completion of the transaction, the executive vice president directly owned 11,243 shares in the company, valued at approximately $652,543.72. This trade represents a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO R Anthony Benten sold 1,990 shares of New York Times stock in a transaction that occurred on Friday, May 30th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,490 shares of company stock worth $769,928. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

New York Times Price Performance

Shares of NYT opened at $59.7650 on Friday. The New York Times Company has a one year low of $44.83 and a one year high of $62.24. The company has a 50-day simple moving average of $55.79 and a two-hundred day simple moving average of $52.57. The firm has a market capitalization of $9.73 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 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 business had revenue of $685.90 million during the quarter, compared to analyst estimates of $670.22 million. During the same period last year, the business posted $0.45 earnings per share. New York Times’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Dividend Announcement

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

New York Times Company 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.