New York Times Co (NYT) Director Sells $97,217.28 in Stock

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New York Times Co (NYSE:NYT) Director Robert E. Denham sold 3,492 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $27.84, for a total value of $97,217.28. Following the completion of the sale, the director now owns 45,237 shares of the company’s stock, valued at approximately $1,259,398.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

New York Times stock opened at $27.49 on Friday. The company has a quick ratio of 2.02, a current ratio of 1.94 and a debt-to-equity ratio of 0.24. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 34.36, a P/E/G ratio of 4.07 and a beta of 1.12. New York Times Co has a twelve month low of $17.10 and a twelve month high of $28.72.

New York Times (NYSE:NYT) last posted its earnings results on Thursday, November 1st. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $417.30 million during the quarter, compared to analyst estimates of $409.80 million. New York Times had a return on equity of 15.14% and a net margin of 0.79%. New York Times’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. Analysts anticipate that New York Times Co will post 0.79 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Wednesday, October 3rd were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, October 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 0.58%. New York Times’s dividend payout ratio is currently 20.00%.

A number of research firms have weighed in on NYT. Zacks Investment Research lowered New York Times from a “hold” rating to a “strong sell” rating in a report on Friday, August 10th. ValuEngine lowered New York Times from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. JPMorgan Chase & Co. upped their target price on New York Times to $32.00 and gave the stock an “overweight” rating in a report on Thursday, October 11th. Finally, Barclays lowered New York Times from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $20.00 to $18.00 in a report on Tuesday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25.33.

A number of institutional investors have recently bought and sold shares of NYT. BlackRock Inc. increased its position in shares of New York Times by 7.2% during the third quarter. BlackRock Inc. now owns 16,133,035 shares of the company’s stock worth $373,479,000 after purchasing an additional 1,090,034 shares in the last quarter. Jackson Square Partners LLC increased its position in shares of New York Times by 8.3% during the third quarter. Jackson Square Partners LLC now owns 11,798,263 shares of the company’s stock worth $273,129,000 after purchasing an additional 903,345 shares in the last quarter. FMR LLC increased its position in shares of New York Times by 46.3% during the third quarter. FMR LLC now owns 6,898,947 shares of the company’s stock worth $159,710,000 after purchasing an additional 2,183,048 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of New York Times by 187.8% during the second quarter. Artisan Partners Limited Partnership now owns 4,638,999 shares of the company’s stock worth $120,150,000 after purchasing an additional 3,027,171 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its position in shares of New York Times by 9.2% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 4,612,326 shares of the company’s stock worth $106,775,000 after purchasing an additional 387,254 shares in the last quarter. Institutional investors own 90.51% of the company’s stock.

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About New York Times

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company provides The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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