Amalgamated Bank Has $3.78 Million Stock Position in The New York Times Company (NYSE:NYT)

Amalgamated Bank reduced its position in The New York Times Company (NYSE:NYT) by 4.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 76,160 shares of the company’s stock after selling 3,336 shares during the period. Amalgamated Bank’s holdings in New York Times were worth $3,778,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of New York Times by 12.6% in the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock valued at $99,000 after buying an additional 212 shares during the period. Natixis Advisors LLC grew its stake in shares of New York Times by 1.2% during the fourth quarter. Natixis Advisors LLC now owns 19,187 shares of the company’s stock worth $999,000 after purchasing an additional 228 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after purchasing an additional 247 shares during the period. Snowden Capital Advisors LLC grew its stake in shares of New York Times by 2.1% during the fourth quarter. Snowden Capital Advisors LLC now owns 14,648 shares of the company’s stock worth $762,000 after purchasing an additional 307 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of New York Times by 0.7% during the fourth quarter. Arizona State Retirement System now owns 45,064 shares of the company’s stock worth $2,346,000 after purchasing an additional 330 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NYT has been the subject of a number of analyst reports. Wall Street Zen raised New York Times from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Citigroup reaffirmed a “buy” rating on shares of New York Times in a research note on Thursday, June 12th. Finally, Guggenheim lifted 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.40.

Insider Activity

In other news, Director David S. Perpich sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total value of $224,720.00. Following the sale, the director directly owned 27,569 shares in the company, valued at $1,548,826.42. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO R Anthony Benten sold 1,990 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were 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 in the company, valued at approximately $2,252,123.75. This trade represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,490 shares of company stock worth $479,728 over the last three months. Corporate insiders own 1.90% of the company’s stock.

New York Times Trading Up 1.0%

NYSE:NYT opened at $57.12 on Friday. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 1.96 and a beta of 1.11. The stock has a 50-day moving average price of $54.76 and a two-hundred day moving average price of $51.83.

New York Times (NYSE:NYT) last posted its 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 firm had revenue of $635.91 million during the quarter, compared to analysts’ expectations of $634.99 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. Sell-side analysts forecast that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.26%. New York Times’s dividend payout ratio (DPR) is 39.13%.

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.