US Bancorp DE Sells 677 Shares of The New York Times Company (NYSE:NYT)

US Bancorp DE decreased its position in The New York Times Company (NYSE:NYT) by 8.6% during the first quarter, HoldingsChannel.com reports. The fund owned 7,205 shares of the company’s stock after selling 677 shares during the quarter. US Bancorp DE’s holdings in New York Times were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. American National Bank & Trust bought a new stake in New York Times in the first quarter worth $45,000. Bessemer Group Inc. increased its position in New York Times by 12.6% in the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after purchasing an additional 212 shares during the last quarter. Putney Financial Group LLC bought a new stake in New York Times in the fourth quarter worth $102,000. Bartlett & CO. Wealth Management LLC bought a new stake in New York Times in the first quarter worth $99,000. Finally, Meeder Asset Management Inc. bought a new stake in New York Times in the first quarter worth $115,000. 95.37% of the stock is currently owned by institutional investors.

Insider Activity at New York Times

In other New York Times news, EVP William Bardeen sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total value of $290,200.00. Following the completion of the sale, the executive vice president directly owned 11,243 shares in the company, valued at approximately $652,543.72. This represents a 30.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO R Anthony Benten sold 1,990 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.75, for a total value of $112,932.50. Following the completion of the sale, the chief accounting officer owned 39,685 shares of the company’s stock, valued at $2,252,123.75. This represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,490 shares of company stock worth $769,928 in the last quarter. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NYT shares. Guggenheim boosted their price target on shares of New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Morgan Stanley boosted their target price on New York Times from $54.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Citigroup reissued a “buy” rating on shares of New York Times in a research report on Thursday, June 12th. Evercore ISI boosted their target price on New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, Barclays set a $52.00 target price on New York Times and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.33.

New York Times Stock Up 4.6%

NYT opened at $60.65 on Thursday. The business has a fifty day moving average of $55.20 and a 200 day moving average of $52.32. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24. The stock has a market cap of $9.89 billion, a P/E ratio of 31.26, a PEG ratio of 1.46 and a beta of 1.09.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. New York Times had a return on equity of 19.55% and a net margin of 11.92%. The company had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $670.22 million. During the same quarter in the previous year, the business earned $0.45 EPS. New York Times’s revenue was up 9.7% compared to the same quarter last year. Equities analysts anticipate 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. Investors of record on Wednesday, July 9th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. New York Times’s payout ratio is presently 37.11%.

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.