The New York Times Company $NYT Shares Sold by Kestra Investment Management LLC

Kestra Investment Management LLC cut its stake in The New York Times Company (NYSE:NYT) by 30.2% in the third quarter, Holdings Channel.com reports. The firm owned 16,409 shares of the company’s stock after selling 7,103 shares during the quarter. Kestra Investment Management LLC’s holdings in New York Times were worth $1,045,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NYT. Bessemer Group Inc. raised its stake in shares of New York Times by 34.4% in the 1st quarter. Bessemer Group Inc. now owns 687 shares of the company’s stock valued at $58,000 after purchasing an additional 176 shares during the period. Kaufman Rossin Wealth LLC lifted its holdings in shares of New York Times by 6.9% in the third quarter. Kaufman Rossin Wealth LLC now owns 3,389 shares of the company’s stock valued at $216,000 after purchasing an additional 219 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of New York Times by 1.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,165 shares of the company’s stock worth $1,201,000 after buying an additional 242 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of New York Times by 3.3% during the first quarter. Janney Montgomery Scott LLC now owns 7,816 shares of the company’s stock worth $654,000 after buying an additional 249 shares during the period. Finally, Kestra Advisory Services LLC boosted its position in shares of New York Times by 4.1% during the first quarter. Kestra Advisory Services LLC now owns 6,635 shares of the company’s stock worth $556,000 after buying an additional 263 shares during the period. Institutional investors own 95.37% of the company’s stock.

Trending Headlines about New York Times

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

• Positive Sentiment: Zacks characterized NYT as a top long-term growth stock, which may support investor confidence in its growth outlook. Why New York Times Co. (NYT) is a Top Growth Stock for the Long-Term
• Positive Sentiment: A separate report put analysts’ consensus price target at $82.70, indicating generally favorable expectations for the shares. The New York Times Company Stock Has Consensus Price Target of $82.70 According to Analysts
• Neutral Sentiment: Coverage of elevated inflation and possible Federal Reserve rate increases points to a broader market headwind: higher rates can pressure equity valuations, though the article does not identify a specific impact on NYT. Elevated Inflation Keeps Pressure on Fed to Raise Rates

New York Times Trading Up 0.7%

New York Times stock opened at $72.67 on Wednesday. The New York Times Company has a 1-year low of $58.87 and a 1-year high of $87.10. The company has a fifty day simple moving average of $67.47 and a 200 day simple moving average of $73.26. The company has a market cap of $11.72 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 1.78 and a beta of 0.89.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. New York Times had a net margin of 13.41% and a return on equity of 23.06%. The firm had revenue of $768.54 million for the quarter, compared to analysts’ expectations of $767.21 million. During the same period in the previous year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that The New York Times Company will post 2.95 EPS for the current year.

New York Times Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Investors of record on Wednesday, October 7th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.3%. New York Times’s payout ratio is currently 36.80%.

Wall Street Analysts Forecast Growth

NYT has been the subject of a number of research reports. Barclays increased their price objective on New York Times from $63.00 to $64.00 and gave the stock an “equal weight” rating in a report on Thursday, November 5th. New Street Research set a $82.00 target price on New York Times in a research note on Tuesday, September 15th. Weiss Ratings upgraded New York Times from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen downgraded New York Times from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Guggenheim raised shares of New York Times from a “neutral” rating to a “buy” rating and raised their price target for the stock from $70.00 to $82.00 in a research note on Tuesday, September 15th. One investment 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’s stock. According to data from MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.80.

About New York Times

The New York Times Company is a media organization best known for publishing The New York Times, a newspaper founded in 1851. Based in New York City, the company produces journalism on U.S. and international news, politics, business, culture, science and other subjects. Its offerings include print and digital news, games, cooking content, product reviews through Wirecutter, and sports journalism through The Athletic. The company serves readers in the United States and around the world through its digital platforms and print publications.