Fifth Third Bancorp Has $7.07 Million Stock Holdings in The New York Times Company $NYT

Fifth Third Bancorp boosted its holdings in shares of The New York Times Company (NYSE:NYT) by 745.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,473 shares of the company’s stock after purchasing an additional 74,479 shares during the period. Fifth Third Bancorp owned about 0.05% of New York Times worth $7,073,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Navalign LLC bought a new position in shares of New York Times during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC grew its position in New York Times by 74.2% in the fourth quarter. Cornerstone Planning Group LLC now owns 446 shares of the company’s stock valued at $32,000 after acquiring an additional 190 shares during the period. International Assets Investment Management LLC bought a new stake in New York Times in the fourth quarter valued at $32,000. SOA Wealth Advisors LLC. acquired a new position in New York Times during the fourth quarter worth $34,000. Finally, Larson Financial Group LLC raised its stake in New York Times by 59.6% during the third quarter. Larson Financial Group LLC now owns 656 shares of the company’s stock worth $38,000 after acquiring an additional 245 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Stock Up 2.0%

Shares of NYSE:NYT opened at $76.70 on Friday. The New York Times Company has a 12 month low of $51.03 and a 12 month high of $87.10. The company’s 50-day moving average price is $74.26 and its two-hundred day moving average price is $75.93. The firm has a market cap of $12.41 billion, a P/E ratio of 32.92, a P/E/G ratio of 1.56 and a beta of 0.96.

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

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Wednesday, July 8th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, July 8th. New York Times’s dividend payout ratio (DPR) is presently 39.48%.

Insider Buying and Selling at New York Times

In other news, EVP William Bardeen sold 4,121 shares of New York Times stock in a transaction 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 directly owned 14,560 shares of the company’s stock, valued at approximately $1,133,496. This trade represents a 22.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jacqueline M. Welch sold 4,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total value of $296,560.00. Following the sale, the executive vice president owned 23,873 shares of the company’s stock, valued at approximately $1,769,944.22. The trade was a 14.35% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 17,121 shares of company stock worth $1,310,920. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NYT shares. JPMorgan Chase & Co. boosted their target price on shares of New York Times from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $95.00 target price on shares of New York Times in a research report on Thursday, May 7th. Guggenheim lifted their price target on shares of New York Times from $63.00 to $70.00 and gave the company 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. Finally, Morgan Stanley set a $90.00 price objective on shares of New York Times in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.22.

New York Times News Roundup

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Zacks Research upgraded The New York Times Company (NYSE: NYT) from hold to strong-buy, a bullish signal that may be supporting the stock. Tickerreport.com report on Zacks upgrade
• Neutral Sentiment: The company’s newsroom continued to generate high-profile political and geopolitical coverage, including reporting on U.S.-Iran tensions, ICE, Ukraine, and domestic weather disasters, which reinforces NYT’s role as a major breaking-news publisher. Trump Pressures ICE to Resume Traffic Stops After Agency Pulls Back
• Neutral Sentiment: Reuters reported that NYT filed to block federal subpoenas related to reporters’ coverage of security concerns around Trump’s Qatari-donated Air Force One, highlighting legal and press-freedom issues but not an obvious business driver. Reuters: New York Times seeks to block subpoenas to reporters over Air Force One reporting
• Neutral Sentiment: Other NYT headlines over the past day were largely editorial, science, and world-news pieces, such as wildfire smoke, flood coverage, and a new cholesterol drug approval, which are important for readership but less likely to move the stock on their own.

About New York Times

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.