Brown Advisory Inc. Acquires 7,475 Shares of The New York Times Co. (NYT)
Brown Advisory Inc. raised its stake in shares of The New York Times Co. (NYSE:NYT) by 21.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,410 shares of the company’s stock after buying an additional 7,475 shares during the period. Brown Advisory Inc.’s holdings in The New York Times were worth $513,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. raised its stake in The New York Times by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,644,246 shares of the company’s stock valued at $45,407,000 after buying an additional 53,991 shares in the last quarter. Advance Capital I Inc. acquired a new stake in The New York Times during the second quarter valued at approximately $189,000. Wellington Management Group LLP raised its stake in The New York Times by 2.7% in the first quarter. Wellington Management Group LLP now owns 4,293,243 shares of the company’s stock worth $53,494,000 after buying an additional 111,681 shares in the last quarter. SG Americas Securities LLC raised its stake in The New York Times by 292.1% in the second quarter. SG Americas Securities LLC now owns 186,314 shares of the company’s stock worth $2,254,000 after buying an additional 138,797 shares in the last quarter. Finally, State Street Corp raised its stake in The New York Times by 2.9% in the first quarter. State Street Corp now owns 4,254,562 shares of the company’s stock worth $53,008,000 after buying an additional 120,483 shares in the last quarter. 62.86% of the stock is owned by institutional investors and hedge funds.
The New York Times Co. (NYSE:NYT) opened at 11.95 on Friday. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 36.88 and a beta of 1.82. The New York Times Co. has a 1-year low of $11.45 and a 1-year high of $14.27. The firm has a 50-day moving average of $12.68 and a 200 day moving average of $12.48.
The New York Times (NYSE:NYT) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The firm earned $372.60 million during the quarter, compared to analysts’ expectations of $377.15 million. The New York Times had a net margin of 3.36% and a return on equity of 13.70%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. Analysts expect that The New York Times Co. will post $0.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.34%. The ex-dividend date is Monday, October 3rd. The New York Times’s payout ratio is presently 50.00%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of The New York Times from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Jefferies Group restated a “hold” rating and set a $13.00 price target on shares of The New York Times in a report on Friday, July 29th. Finally, TheStreet upgraded shares of The New York Times from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The New York Times presently has a consensus rating of “Hold” and a consensus price target of $13.60.
In other news, EVP Levien Meredith A. Kopit sold 26,728 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $13.06, for a total value of $349,067.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kenneth A. Richieri sold 24,942 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $12.95, for a total transaction of $322,998.90. Following the completion of the transaction, the executive vice president now directly owns 50,203 shares in the company, valued at approximately $650,128.85. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by company insiders.
About The New York Times
The New York Times Company is a media organization focused on creating, collecting and distributing news and information. The Company includes newspapers, digital businesses and investments. Its businesses include newspapers, such as The New York Times; the International New York Times (INYT), the international edition of The Times; Websites, including NYTimes.com and international.nytimes.com; mobile applications, including The Times’s news applications, as well as interest-specific applications, such as NYT Cooking, Crossword and others, and related businesses, such as The Times news services division, digital archive distribution, NYT Live, and other products and services under The Times brand.
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