Baker Chad R Boosts Stock Holdings in The New York Times Company (NYSE:NYT)

Baker Chad R grew its position in shares of The New York Times Company (NYSE:NYT) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,325 shares of the company’s stock after purchasing an additional 6,000 shares during the quarter. New York Times makes up about 1.6% of Baker Chad R’s portfolio, making the stock its 26th biggest holding. Baker Chad R owned 0.09% of New York Times worth $7,021,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in shares of New York Times during the 4th quarter valued at approximately $27,000. Compass Wealth Management LLC acquired a new stake in New York Times in the 4th quarter valued at $30,000. DekaBank Deutsche Girozentrale acquired a new stake in New York Times in the 3rd quarter valued at $37,000. Pinebridge Investments L.P. acquired a new stake in New York Times in the 2nd quarter valued at $39,000. Finally, Belpointe Asset Management LLC grew its stake in New York Times by 31.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,510 shares of the company’s stock valued at $59,000 after acquiring an additional 365 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, March 4th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, Citigroup started coverage on shares of New York Times in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.67.

Insider Activity

In other news, EVP Diane Brayton sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the completion of the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Diane Brayton sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the completion of the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David S. Perpich sold 3,014 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total transaction of $132,706.42. Following the completion of the transaction, the director now directly owns 20,813 shares of the company’s stock, valued at approximately $916,396.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,557 shares of company stock valued at $1,029,968. 2.00% of the stock is currently owned by company insiders.

New York Times Stock Performance

Shares of NYT stock traded down $0.35 on Monday, hitting $42.87. 1,292,809 shares of the stock traded hands, compared to its average volume of 1,339,739. The firm’s 50-day moving average price is $44.88 and its two-hundred day moving average price is $44.59. The stock has a market capitalization of $7.03 billion, a PE ratio of 30.78 and a beta of 1.01. The New York Times Company has a twelve month low of $35.06 and a twelve month high of $49.87.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.10. The company had revenue of $676.20 million during the quarter, compared to analyst estimates of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. New York Times’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. On average, equities research analysts anticipate that The New York Times Company will post 1.64 EPS for the current fiscal year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Tuesday, April 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.21%. The ex-dividend date is Monday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.11. New York Times’s dividend payout ratio (DPR) is 31.65%.

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.