Nationwide Fund Advisors raised its stake in shares of The New York Times Co. (NYSE:NYT) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 408,240 shares of the company’s stock after buying an additional 13,757 shares during the period. Nationwide Fund Advisors owned about 0.25% of The New York Times worth $4,940,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of Montreal Can acquired a new position in shares of The New York Times during the second quarter valued at $492,000. BNP Paribas Arbitrage SA acquired a new position in shares of The New York Times during the second quarter valued at $691,000. Boothbay Fund Management LLC acquired a new position in shares of The New York Times during the first quarter valued at $135,000. Royal Bank of Canada increased its position in shares of The New York Times by 284.5% in the first quarter. Royal Bank of Canada now owns 46,425 shares of the company’s stock valued at $578,000 after buying an additional 34,350 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of The New York Times during the first quarter valued at $144,000. Institutional investors own 62.86% of the company’s stock.
Shares of The New York Times Co. (NYSE:NYT) traded up 0.42% during mid-day trading on Friday, reaching $11.95. 787,398 shares of the company were exchanged. The firm’s 50-day moving average is $12.68 and its 200-day moving average is $12.48. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 36.88 and a beta of 1.82. The New York Times Co. has a 12 month low of $11.45 and a 12 month high of $14.27.
The New York Times (NYSE:NYT) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The New York Times had a net margin of 3.36% and a return on equity of 13.70%. The firm earned $372.60 million during the quarter, compared to analyst estimates of $377.15 million. During the same quarter last year, the business posted $0.13 EPS. The company’s revenue was down 2.7% on a year-over-year basis. On average, equities analysts forecast that The New York Times Co. will post $0.58 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Wednesday, October 5th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Monday, October 3rd. The New York Times’s dividend payout ratio is 50.00%.
A number of research firms have recently commented on NYT. TheStreet upgraded The New York Times from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Zacks Investment Research downgraded The New York Times from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, Jefferies Group restated a “hold” rating and set a $13.00 price objective on shares of The New York Times in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $13.60.
In related news, EVP Levien Meredith A. Kopit sold 26,728 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $13.06, for a total value of $349,067.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth A. Richieri sold 24,942 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $12.95, for a total transaction of $322,998.90. Following the completion of the transaction, the executive vice president now directly owns 50,203 shares of the company’s stock, valued at approximately $650,128.85. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by corporate insiders.
About The New York Times
The New York Times Company is a media organization focused on creating, collecting and distributing news and information. The Company includes newspapers, digital businesses and investments. Its businesses include newspapers, such as The New York Times; the International New York Times (INYT), the international edition of The Times; Websites, including NYTimes.com and international.nytimes.com; mobile applications, including The Times’s news applications, as well as interest-specific applications, such as NYT Cooking, Crossword and others, and related businesses, such as The Times news services division, digital archive distribution, NYT Live, and other products and services under The Times brand.
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