HighTower Advisors LLC Reduces Stock Position in The New York Times Company (NYSE:NYT)

HighTower Advisors LLC decreased its position in shares of The New York Times Company (NYSE:NYT) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,762 shares of the company’s stock after selling 332 shares during the quarter. HighTower Advisors LLC’s holdings in New York Times were worth $950,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NYT. Oak Family Advisors LLC increased its stake in shares of New York Times by 2.2% in the second quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock worth $547,000 after acquiring an additional 231 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of New York Times by 2.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock valued at $608,000 after buying an additional 247 shares during the last quarter. KBC Group NV boosted its stake in shares of New York Times by 0.4% in the third quarter. KBC Group NV now owns 75,917 shares of the company’s stock worth $4,226,000 after buying an additional 308 shares during the last quarter. Hixon Zuercher LLC grew its holdings in New York Times by 2.9% during the third quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock worth $696,000 after acquiring an additional 354 shares during the period. Finally, UMB Bank n.a. raised its position in New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Trading Down 1.8 %

Shares of New York Times stock opened at $54.60 on Wednesday. The firm’s 50-day moving average price is $54.82 and its 200 day moving average price is $53.73. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $58.16. The firm has a market capitalization of $8.95 billion, a PE ratio of 32.31, a P/E/G ratio of 1.75 and a beta of 1.00.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The firm had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.13 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.95%. New York Times’s payout ratio is 30.77%.

Analyst Ratings Changes

NYT has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

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.