Perigon Wealth Management LLC Makes New $245,000 Investment in The New York Times Company (NYSE:NYT)

Perigon Wealth Management LLC purchased a new position in shares of The New York Times Company (NYSE:NYT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,006 shares of the company’s stock, valued at approximately $245,000.

Several other institutional investors also recently added to or reduced their stakes in NYT. Cerity Partners LLC acquired a new position in shares of New York Times in the fourth quarter valued at approximately $251,000. Allspring Global Investments Holdings LLC increased its holdings in shares of New York Times by 47,273.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 165,807 shares of the company’s stock valued at $8,123,000 after purchasing an additional 165,457 shares during the period. Confluence Wealth Services Inc. increased its holdings in shares of New York Times by 14.1% in the fourth quarter. Confluence Wealth Services Inc. now owns 16,608 shares of the company’s stock valued at $814,000 after purchasing an additional 2,053 shares during the period. International Assets Investment Management LLC increased its holdings in shares of New York Times by 1,322.3% in the fourth quarter. International Assets Investment Management LLC now owns 22,046 shares of the company’s stock valued at $1,080,000 after purchasing an additional 20,496 shares during the period. Finally, Pinkerton Retirement Specialists LLC acquired a new position in shares of New York Times in the fourth quarter valued at approximately $1,086,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Price Performance

New York Times stock opened at $41.61 on Thursday. The New York Times Company has a 1-year low of $35.06 and a 1-year high of $49.87. The company has a market cap of $6.83 billion, a PE ratio of 29.94 and a beta of 1.01. The stock’s 50 day moving average price is $43.43 and its 200 day moving average price is $44.69.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.10. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The firm had revenue of $676.20 million for the quarter, compared to the consensus estimate of $680.02 million. During the same period in the previous year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that The New York Times Company will post 1.64 EPS for the current fiscal year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Tuesday, April 2nd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.25%. This is an increase from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Monday, April 1st. New York Times’s payout ratio is presently 37.41%.

Wall Street Analysts Forecast Growth

NYT has been the topic of a number of recent research reports. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Monday, March 4th. Finally, Citigroup started coverage on New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.67.

Insiders Place Their Bets

In other New York Times news, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the sale, the executive vice president now directly owns 39,312 shares in the company, valued at $1,684,126.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the sale, the chief executive officer now owns 90,759 shares of the company’s stock, valued at $4,003,379.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Diane Brayton sold 7,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the sale, the executive vice president now directly owns 39,312 shares in the company, valued at approximately $1,684,126.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,557 shares of company stock worth $1,029,968. 2.00% of the stock is owned by corporate insiders.

About New York Times

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.