Bank of New York Mellon Corp Acquires 43,796 Shares of The New York Times Company $NYT

Bank of New York Mellon Corp raised its holdings in shares of The New York Times Company (NYSE:NYT) by 3.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,512,403 shares of the company’s stock after acquiring an additional 43,796 shares during the quarter. Bank of New York Mellon Corp’s holdings in New York Times were worth $126,633,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NYT. Genus Capital Management Inc. bought a new stake in New York Times during the 4th quarter worth about $4,945,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of New York Times by 28.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 94,748 shares of the company’s stock valued at $6,565,000 after acquiring an additional 21,228 shares in the last quarter. Horizon Investments LLC grew its holdings in shares of New York Times by 52.8% in the 4th quarter. Horizon Investments LLC now owns 97,772 shares of the company’s stock valued at $6,770,000 after acquiring an additional 33,804 shares in the last quarter. UBS Group AG increased its position in shares of New York Times by 328.8% in the fourth quarter. UBS Group AG now owns 525,124 shares of the company’s stock valued at $36,454,000 after acquiring an additional 402,660 shares during the last quarter. Finally, LGT Fund Management Co Ltd. increased its position in shares of New York Times by 27.8% in the first quarter. LGT Fund Management Co Ltd. now owns 70,463 shares of the company’s stock valued at $5,900,000 after acquiring an additional 15,321 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times News Roundup

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

• Positive Sentiment: The New York Times was cited by Reuters in a major report that Meta is in talks for a potential $10 billion Anthropic compute deal, highlighting the publication’s continued influence on market-moving business coverage. Meta in talks for $10 billion Anthropic compute deal, NYT reports
• Positive Sentiment: The company filed motions to block Trump administration subpoenas to reporters, underscoring its willingness to defend journalists and the independence of its newsroom, which can support the brand with readers and subscribers. New York Times seeks to block subpoenas to reporters over Air Force One reporting
• Neutral Sentiment: The Times published a steady slate of major national, international, science, and culture stories over the past day, but most appear to be standard content flow rather than a clear new revenue catalyst.

Insider Buying and Selling at New York Times

In other news, Director David S. Perpich sold 9,000 shares of New York Times stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $77.06, for a total transaction of $693,540.00. Following the completion of the transaction, the director directly owned 28,469 shares in the company, valued at approximately $2,193,821.14. The trade was a 24.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William Bardeen sold 4,121 shares of New York Times 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 transaction, the executive vice president owned 14,560 shares of the company’s stock, valued at $1,133,496. This represents a 22.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,121 shares of company stock worth $1,310,920 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on NYT shares. Bank of America reduced their price target on New York Times from $87.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, June 24th. JPMorgan Chase & Co. boosted their price target on New York Times from $74.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Zacks Research raised New York Times from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Wall Street Zen upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, UBS Group set a $80.00 price objective on New York Times in a report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, New York Times presently has an average rating of “Moderate Buy” and a consensus target price of $83.22.

New York Times Price Performance

New York Times stock opened at $75.90 on Monday. The firm has a market capitalization of $12.29 billion, a PE ratio of 32.58, a P/E/G ratio of 1.57 and a beta of 0.96. The company’s 50-day moving average is $74.19 and its 200-day moving average is $75.98. The New York Times Company has a fifty-two week low of $51.03 and a fifty-two week high of $87.10.

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

New York Times Dividend Announcement

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

New York Times Profile

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.