Principal Financial Group Inc. Has $21.06 Million Stake in The New York Times Company (NYSE:NYT)

Principal Financial Group Inc. decreased its stake in shares of The New York Times Company (NYSE:NYT) by 30.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 378,353 shares of the company’s stock after selling 166,004 shares during the quarter. Principal Financial Group Inc.’s holdings in New York Times were worth $21,063,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in NYT. UMB Bank n.a. increased its stake 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 during the period. GAMMA Investing LLC increased its position in shares of New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after purchasing an additional 792 shares during the period. Signaturefd LLC raised its stake in shares of New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after purchasing an additional 432 shares in the last quarter. Blue Trust Inc. raised its stake in shares of New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Paladin Wealth LLC bought a new position in New York Times in the third quarter worth $172,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NYT. Barclays increased their price objective on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased 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. Finally, JPMorgan Chase & Co. raised their price target 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.83.

New York Times Stock Down 1.3 %

Shares of NYSE NYT opened at $54.48 on Thursday. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.75 and a beta of 1.02. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $57.08. The firm’s 50-day simple moving average is $54.84 and its 200 day simple moving average is $52.58.

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

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.95%. New York Times’s payout ratio is currently 30.77%.

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.