Corient Private Wealth LLC Sells 9,127 Shares of The New York Times Company (NYSE:NYT)

Corient Private Wealth LLC decreased its holdings in The New York Times Company (NYSE:NYT) by 25.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 26,729 shares of the company’s stock after selling 9,127 shares during the period. Corient Private Wealth LLC’s holdings in New York Times were worth $1,391,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NYT. Franklin Resources Inc. grew its position in New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after acquiring an additional 49,853 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of New York Times by 95.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock valued at $4,571,000 after purchasing an additional 40,058 shares in the last quarter. Clark & Stuart Inc bought a new stake in shares of New York Times during the 4th quarter valued at approximately $8,490,000. Park Avenue Securities LLC increased its position in New York Times by 236.0% during the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock worth $728,000 after purchasing an additional 9,823 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in New York Times in the 4th quarter valued at approximately $1,200,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of NYSE:NYT opened at $49.11 on Wednesday. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16. The firm has a market cap of $8.02 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The firm’s fifty day moving average is $50.11 and its 200-day moving average is $52.78.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. Sell-side analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be issued a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.47%. New York Times’s dividend payout ratio is presently 40.45%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley reduced their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

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.