Y Intercept Hong Kong Ltd Lowers Stock Holdings in The New York Times Company (NYSE:NYT)

Y Intercept Hong Kong Ltd lessened its stake in shares of The New York Times Company (NYSE:NYT) by 65.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,926 shares of the company’s stock after selling 14,708 shares during the period. Y Intercept Hong Kong Ltd’s holdings in New York Times were worth $441,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Oak Family Advisors LLC increased its position in shares of New York Times by 2.2% during the second quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock valued at $547,000 after acquiring an additional 231 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of New York Times by 2.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock worth $608,000 after purchasing an additional 247 shares during the last quarter. KBC Group NV lifted its holdings in shares of New York Times by 0.4% during the third quarter. KBC Group NV now owns 75,917 shares of the company’s stock valued at $4,226,000 after purchasing an additional 308 shares in the last quarter. Hixon Zuercher LLC boosted its position in shares of New York Times by 2.9% during the third quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock valued at $696,000 after buying an additional 354 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after buying an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

Shares of NYSE:NYT opened at $55.59 on Tuesday. The firm’s 50 day simple moving average is $54.81 and its two-hundred day simple moving average is $53.68. The company has a market capitalization of $9.11 billion, a P/E ratio of 33.18, a P/E/G ratio of 1.75 and a beta of 1.00. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $58.16.

New York Times (NYSE:NYT) last issued its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The company had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same quarter in the prior year, the firm posted $0.37 EPS. New York Times’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that The New York Times Company will post 1.84 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.13 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.94%. New York Times’s dividend payout ratio is presently 30.77%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NYT shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.83.

About New York Times

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.