Fiera Capital Corp Cuts Position in The New York Times Company (NYSE:NYT)

Fiera Capital Corp reduced its stake in shares of The New York Times Company (NYSE:NYT) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,258,868 shares of the company’s stock after selling 66,844 shares during the quarter. Fiera Capital Corp owned approximately 0.77% of New York Times worth $70,081,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NYT. Farallon Capital Management LLC lifted its position in shares of New York Times by 18.1% during the first quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after buying an additional 1,711,268 shares during the last quarter. Darsana Capital Partners LP lifted its position in New York Times by 25.0% during the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock valued at $320,062,000 after acquiring an additional 1,250,000 shares during the last quarter. Renaissance Technologies LLC boosted its stake in New York Times by 19.8% in the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock valued at $149,131,000 after acquiring an additional 482,200 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of New York Times by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after purchasing an additional 438,680 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of New York Times by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,660,015 shares of the company’s stock valued at $85,009,000 after purchasing an additional 19,196 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

NYT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays boosted their target price on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. 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 report on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, New York Times currently has an average rating of “Moderate Buy” and a consensus target price of $53.43.

Insider Activity at New York Times

In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the transaction, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.

New York Times Stock Up 1.0 %

Shares of NYT traded up $0.58 during mid-day trading on Friday, reaching $56.38. The company had a trading volume of 220,925 shares, compared to its average volume of 1,108,557. The stock has a 50 day moving average of $54.79 and a two-hundred day moving average of $52.20. The stock has a market capitalization of $9.26 billion, a P/E ratio of 33.01 and a beta of 1.02. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $57.08.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.95%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. On average, sell-side analysts expect that The New York Times Company will post 1.83 earnings per share for the current year.

New York Times Announces Dividend

The firm 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 was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.92%. New York Times’s dividend payout ratio (DPR) is 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.