Aviva PLC Decreases Position in The New York Times Company $NYT

Aviva PLC lowered its stake in shares of The New York Times Company (NYSE:NYT) by 32.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,551 shares of the company’s stock after selling 4,015 shares during the quarter. Aviva PLC’s holdings in New York Times were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NYT. First Citizens Bank & Trust Co. raised its holdings in shares of New York Times by 264.0% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 16,951 shares of the company’s stock valued at $949,000 after purchasing an additional 12,294 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in New York Times by 49.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 195,724 shares of the company’s stock valued at $10,957,000 after buying an additional 65,175 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in New York Times by 154.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 64,522 shares of the company’s stock worth $3,685,000 after buying an additional 39,149 shares during the last quarter. Element Capital Management LLC purchased a new position in shares of New York Times in the 1st quarter valued at about $2,742,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of New York Times by 29.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 30,808 shares of the company’s stock worth $1,725,000 after acquiring an additional 6,957 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other New York Times news, EVP Jacqueline M. Welch sold 5,500 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the sale, the executive vice president directly owned 14,470 shares of the company’s stock, valued at approximately $868,778.80. This trade represents a 27.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NYT. Citigroup upped their price target on New York Times from $64.00 to $72.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI reaffirmed an “outperform” rating on shares of New York Times in a research report on Thursday, November 6th. Morgan Stanley boosted their price target on shares of New York Times from $59.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. UBS Group set a $62.00 price objective on New York Times in a report on Thursday, November 6th. Finally, Zacks Research downgraded New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, New York Times presently has an average rating of “Moderate Buy” and an average price target of $63.57.

New York Times Stock Up 2.0%

Shares of NYT opened at $64.49 on Friday. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $64.75. The company has a 50-day simple moving average of $57.66 and a 200-day simple moving average of $56.39. The company has a market capitalization of $10.50 billion, a PE ratio of 33.24, a P/E/G ratio of 1.41 and a beta of 1.14.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm had revenue of $700.82 million during the quarter, compared to the consensus estimate of $692.01 million. During the same period last year, the business posted $0.45 EPS. New York Times’s quarterly revenue was up 9.5% on a year-over-year basis. On average, research analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, October 8th. New York Times’s payout ratio is presently 35.12%.

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.