The New York Times Company (NYSE:NYT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in The New York Times Company (NYSE:NYT) by 30.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 378,353 shares of the company’s stock after selling 166,004 shares during the period. Principal Financial Group Inc. owned 0.23% of New York Times worth $21,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NYT. Franklin Resources Inc. lifted its position in New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after purchasing an additional 49,853 shares during the period. Comgest Global Investors S.A.S. lifted its holdings in shares of New York Times by 3.2% in the third quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company’s stock valued at $25,721,000 after buying an additional 14,407 shares during the period. BNP Paribas Financial Markets boosted its stake in New York Times by 95.3% during the third quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock valued at $4,571,000 after buying an additional 40,058 shares in the last quarter. Algert Global LLC grew its holdings in New York Times by 17.2% during the second quarter. Algert Global LLC now owns 106,623 shares of the company’s stock worth $5,460,000 after acquiring an additional 15,655 shares during the period. Finally, Bailard Inc. bought a new stake in New York Times in the second quarter worth about $205,000. 95.37% of the stock is currently owned by institutional investors.

New York Times Price Performance

New York Times stock opened at $53.37 on Thursday. The company has a market cap of $8.75 billion, a P/E ratio of 31.58, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The firm’s 50 day simple moving average is $54.59 and its 200-day simple moving average is $53.82.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. On average, analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, January 9th. This represents a $0.52 annualized dividend and a yield of 0.97%. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.