Eaton Vance Management maintained its position in The New York Times Co. (NYSE:NYT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,627 shares of the company’s stock at the end of the second quarter. Eaton Vance Management’s holdings in The New York Times were worth $431,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. acquired a new position in The New York Times during the second quarter worth approximately $109,000. LMR Partners LLP acquired a new position in The New York Times during the second quarter worth approximately $125,000. Boothbay Fund Management LLC acquired a new position in The New York Times during the first quarter worth approximately $135,000. Schonfeld Strategic Advisors LLC acquired a new position in The New York Times during the first quarter worth approximately $144,000. Finally, Advance Capital I Inc. acquired a new position in The New York Times during the second quarter worth approximately $189,000. 62.86% of the stock is currently owned by institutional investors.
Shares of The New York Times Co. (NYSE:NYT) traded up 0.42% on Friday, hitting $11.95. 787,398 shares of the stock were exchanged. The New York Times Co. has a 52-week low of $11.45 and a 52-week high of $14.27. The stock has a market cap of $1.92 billion, a PE ratio of 36.88 and a beta of 1.82. The company’s 50 day moving average is $12.68 and its 200-day moving average is $12.48.
The New York Times (NYSE:NYT) last posted its earnings results on Thursday, July 28th. The company reported $0.11 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.11. The New York Times had a net margin of 3.36% and a return on equity of 13.70%. The company had revenue of $372.60 million for the quarter, compared to analysts’ expectations of $377.15 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The New York Times’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts predict that The New York Times Co. will post $0.58 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 1.34%. The New York Times’s payout ratio is currently 50.00%.
NYT has been the topic of a number of research reports. Zacks Investment Research raised shares of The New York Times from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, July 12th. TheStreet raised shares of The New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Finally, Jefferies Group reissued a “hold” rating and set a $13.00 target price on shares of The New York Times in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $13.60.
In other news, EVP Kenneth A. Richieri sold 24,942 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $12.95, for a total transaction of $322,998.90. Following the sale, the executive vice president now owns 50,203 shares of the company’s stock, valued at $650,128.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Levien Meredith A. Kopit sold 26,728 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $13.06, for a total transaction of $349,067.68. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by company insiders.
The New York Times Company Profile
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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