William Bardeen Sells 2,000 Shares of The New York Times Company (NYSE:NYT) Stock

The New York Times Company (NYSE:NYT - Get Free Report) CFO William Bardeen sold 2,000 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the sale, the chief financial officer now directly owns 10,315 shares in the company, valued at approximately $562,786.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

New York Times Stock Performance

Shares of NYT traded up $0.75 on Tuesday, reaching $54.58. The stock had a trading volume of 918,967 shares, compared to its average volume of 1,204,622. The New York Times Company has a 12-month low of $39.73 and a 12-month high of $56.49. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 36.41 and a beta of 1.06. The company has a 50-day simple moving average of $52.04 and a 200-day simple moving average of $47.58.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.04. New York Times had a return on equity of 17.33% and a net margin of 10.19%. The business had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts expect that The New York Times Company will post 1.77 EPS for the current fiscal year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.95%. New York Times's dividend payout ratio (DPR) is currently 34.67%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NYT. JPMorgan Chase & Co. upped their price target on New York Times from $56.00 to $58.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. Evercore ISI lifted their price target on shares of New York Times from $50.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, May 9th. Finally, Barclays upped their price objective on shares of New York Times from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, New York Times has an average rating of "Moderate Buy" and an average target price of $50.67.

Institutional Investors Weigh In On New York Times

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its holdings in New York Times by 65.9% in the second quarter. Thrivent Financial for Lutherans now owns 68,513 shares of the company's stock worth $3,509,000 after acquiring an additional 27,222 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of New York Times by 5.4% in the 2nd quarter. Pacer Advisors Inc. now owns 32,094 shares of the company's stock worth $1,644,000 after purchasing an additional 1,657 shares during the last quarter. Intech Investment Management LLC boosted its stake in New York Times by 604.6% in the 2nd quarter. Intech Investment Management LLC now owns 69,835 shares of the company's stock worth $3,576,000 after purchasing an additional 59,924 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in New York Times by 17.2% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,184,357 shares of the company's stock valued at $60,651,000 after purchasing an additional 174,228 shares during the last quarter. Finally, XTX Topco Ltd increased its stake in New York Times by 57.1% during the 2nd quarter. XTX Topco Ltd now owns 24,436 shares of the company's stock valued at $1,251,000 after purchasing an additional 8,879 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

New York Times Company 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.

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