Bank of New York Mellon Corp Sells 103,620 Shares of The New York Times Company $NYT

Bank of New York Mellon Corp decreased its position in shares of The New York Times Company (NYSE:NYTFree Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,468,607 shares of the company’s stock after selling 103,620 shares during the quarter. Bank of New York Mellon Corp’s holdings in New York Times were worth $101,951,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in shares of New York Times by 78.1% during the 2nd quarter. AQR Capital Management LLC now owns 4,187,888 shares of the company’s stock valued at $233,265,000 after acquiring an additional 1,836,788 shares during the period. Two Sigma Investments LP grew its position in shares of New York Times by 98.5% during the 3rd quarter. Two Sigma Investments LP now owns 2,055,628 shares of the company’s stock valued at $117,993,000 after acquiring an additional 1,020,031 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of New York Times by 77.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,924,396 shares of the company’s stock valued at $133,592,000 after buying an additional 838,305 shares during the last quarter. American Century Companies Inc. increased its stake in shares of New York Times by 73.0% in the third quarter. American Century Companies Inc. now owns 1,365,608 shares of the company’s stock worth $78,386,000 after purchasing an additional 576,466 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in New York Times by 35.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,574,005 shares of the company’s stock valued at $90,348,000 after acquiring an additional 411,125 shares during the period. 95.37% of the stock is owned by institutional investors.

New York Times Stock Performance

NYSE NYT opened at $76.79 on Monday. The company has a market capitalization of $12.43 billion, a P/E ratio of 32.96, a P/E/G ratio of 1.59 and a beta of 0.95. The New York Times Company has a 52-week low of $51.03 and a 52-week high of $87.10. The company has a fifty day moving average of $79.14 and a 200-day moving average of $74.61.

New York Times (NYSE:NYTGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.12. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The business had revenue of $712.24 million for the quarter, compared to the consensus estimate of $699.93 million. During the same quarter last year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, analysts forecast that The New York Times Company will post 2.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NYT. Guggenheim increased their price target on shares of New York Times from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Barclays boosted their price target on shares of New York Times from $60.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Evercore reiterated an “outperform” rating and issued a $92.00 price objective on shares of New York Times in a research report on Thursday, May 7th. Bank of America assumed coverage on New York Times in a research note on Wednesday, April 22nd. They set a “neutral” rating and a $84.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of New York Times in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, New York Times currently has an average rating of “Moderate Buy” and an average target price of $81.67.

Read Our Latest Stock Analysis on NYT

Trending Headlines about New York Times

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Insider Activity at New York Times

In related news, EVP William Bardeen sold 4,121 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $77.85, for a total value of $320,819.85. Following the completion of the sale, the executive vice president owned 14,560 shares in the company, valued at $1,133,496. The trade was a 22.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David S. Perpich sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $77.06, for a total value of $693,540.00. Following the completion of the sale, the director directly owned 28,469 shares of the company’s stock, valued at approximately $2,193,821.14. This represents a 24.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 17,121 shares of company stock valued at $1,310,920. Corporate insiders own 1.90% of the company’s stock.

New York Times Company Profile

(Free Report)

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

Further Reading

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Institutional Ownership by Quarter for New York Times (NYSE:NYT)

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