T. Rowe Price Investment Management Inc. Sells 234,452 Shares of The New York Times Company $NYT

T. Rowe Price Investment Management Inc. cut its stake in shares of The New York Times Company (NYSE:NYT) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,478,896 shares of the company’s stock after selling 234,452 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.06% of New York Times worth $727,445,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Navalign LLC bought a new stake in shares of New York Times during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC grew its stake in shares of 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 buying an additional 190 shares in the last quarter. International Assets Investment Management LLC acquired a new position in New York Times during the fourth quarter worth $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 position 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 currently owned by institutional investors.

Insider Buying and Selling

In other New York Times news, Director David S. Perpich sold 9,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $77.06, for a total value of $693,540.00. Following the transaction, the director directly owned 28,469 shares of the company’s stock, valued at $2,193,821.14. This represents a 24.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Bardeen sold 4,121 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $77.85, for a total transaction of $320,819.85. Following the completion of the transaction, the executive vice president directly owned 14,560 shares in the company, valued at approximately $1,133,496. This represents a 22.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 17,121 shares of company stock valued at $1,310,920. Company insiders own 1.90% of the company’s stock.

Key Stories Impacting New York Times

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

• Positive Sentiment: Zacks highlighted NYT as a strong growth stock, which may reinforce investor confidence in the company’s fundamentals and long-term earnings potential. Here’s Why New York Times Co. (NYT) is a Strong Growth Stock
• Neutral Sentiment: The company continues to publish high-traffic coverage around major events such as the World Cup, politics, and breaking news, which supports reader engagement but does not appear to be a direct catalyst for the stock.
• Neutral Sentiment: Several election-result and live-blog updates could help near-term traffic, but they are generally part of NYT’s normal newsroom output rather than a new business development.
• Negative Sentiment: No major company-specific earnings, guidance, subscription, or advertising updates were reported in the latest headlines, which may leave the stock without a fresh bullish catalyst and allow it to drift lower with broader market sentiment.

New York Times Trading Down 1.8%

NYT opened at $73.11 on Friday. The stock’s fifty day simple moving average is $77.20 and its 200 day simple moving average is $75.20. The New York Times Company has a 1-year low of $51.03 and a 1-year high of $87.10. The stock has a market cap of $11.83 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 1.54 and a beta of 0.95.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, topping 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 firm had revenue of $712.24 million during the quarter, compared to analysts’ expectations of $699.93 million. During the same period in the previous year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts forecast that The New York Times Company will post 2.93 earnings per share for the current year.

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Wednesday, July 8th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, July 8th. New York Times’s dividend payout ratio (DPR) is currently 39.48%.

Wall Street Analyst Weigh In

A number of analysts have commented on NYT shares. Morgan Stanley set a $90.00 price target on shares of New York Times in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $95.00 price objective on shares of New York Times in a research note on Thursday, May 7th. Argus upgraded shares of New York Times to a “strong-buy” rating in a research note on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of New York Times in a report on Tuesday, April 21st. Finally, Citigroup boosted their price target on New York Times from $77.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.67.

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.