Fiera Capital Corp Sells 1,208,385 Shares of The New York Times Company (NYSE:NYT)

Fiera Capital Corp trimmed its stake in The New York Times Company (NYSE:NYT) by 98.2% during the 1st quarter, HoldingsChannel reports. The fund owned 21,982 shares of the company’s stock after selling 1,208,385 shares during the quarter. Fiera Capital Corp’s holdings in New York Times were worth $1,090,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Allianz Asset Management GmbH increased its position in New York Times by 210.7% during the first quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company’s stock valued at $79,832,000 after acquiring an additional 1,091,430 shares during the last quarter. Squarepoint Ops LLC increased its position in New York Times by 210.5% in the fourth quarter. Squarepoint Ops LLC now owns 1,382,695 shares of the company’s stock worth $71,969,000 after buying an additional 937,354 shares in the last quarter. Millennium Management LLC increased its position in New York Times by 133.6% in the fourth quarter. Millennium Management LLC now owns 1,559,837 shares of the company’s stock worth $81,190,000 after buying an additional 892,155 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of New York Times by 87.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company’s stock worth $99,336,000 after acquiring an additional 891,249 shares during the period. Finally, Darsana Capital Partners LP boosted its stake in shares of New York Times by 15.0% in the fourth quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock worth $299,288,000 after acquiring an additional 750,000 shares during the period. 95.37% of the stock is owned by institutional investors.

New York Times Trading Down 1.1%

Shares of NYT stock opened at $51.44 on Thursday. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $58.16. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.42 and a beta of 1.11. The stock has a fifty day simple moving average of $55.08 and a two-hundred day simple moving average of $52.03.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The business had revenue of $635.91 million for the quarter, compared to the consensus estimate of $634.99 million. During the same period last year, the business posted $0.31 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. Research analysts predict that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were given a $0.18 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.40%. New York Times’s payout ratio is 39.13%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NYT shares. Guggenheim upped their price objective on New York Times from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, June 2nd. Citigroup reaffirmed a “buy” rating on shares of New York Times in a research note on Thursday, June 12th. Finally, Wall Street Zen upgraded New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, New York Times currently has an average rating of “Moderate Buy” and an average target price of $56.40.

Insider Transactions at New York Times

In other news, EVP William Bardeen sold 2,500 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the sale, the executive vice president owned 16,727 shares of the company’s stock, valued at $950,595.41. This trade represents a 13.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David S. Perpich sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total value of $224,720.00. Following the completion of the sale, the director directly owned 27,569 shares of the company’s stock, valued at $1,548,826.42. The trade was a 12.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,490 shares of company stock valued at $479,728 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

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.