Fiera Capital Corp Reduces Stake in The New York Times Company (NYSE:NYT)

Fiera Capital Corp lessened its stake in shares of The New York Times Company (NYSE:NYT) by 5.0% during the 3rd quarter, Holdings Channel reports. The fund owned 1,258,868 shares of the company’s stock after selling 66,844 shares during the quarter. Fiera Capital Corp’s holdings in New York Times were worth $70,081,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Texas Permanent School Fund Corp boosted its holdings in New York Times by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 143,204 shares of the company’s stock valued at $6,189,000 after purchasing an additional 1,854 shares during the last quarter. Duality Advisers LP acquired a new position in New York Times in the first quarter valued at approximately $983,000. Quantbot Technologies LP acquired a new stake in New York Times during the first quarter worth $2,293,000. Swiss National Bank raised its position in New York Times by 0.3% in the first quarter. Swiss National Bank now owns 307,000 shares of the company’s stock valued at $13,269,000 after purchasing an additional 800 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of New York Times in the 1st quarter valued at $2,740,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the sale, the chief executive officer now directly owns 101,772 shares in the company, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NYT. JPMorgan Chase & Co. boosted their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays boosted their price target on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, New York Times currently has an average rating of “Moderate Buy” and an average price target of $53.43.

New York Times Stock Up 1.0 %

New York Times stock traded up $0.58 during mid-day trading on Friday, reaching $56.38. 220,925 shares of the company’s stock were exchanged, compared to its average volume of 1,108,557. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $57.08. The company has a fifty day moving average of $54.79 and a 200-day moving average of $52.20. The company has a market cap of $9.26 billion, a P/E ratio of 33.01 and a beta of 1.02.

New York Times (NYSE:NYT) last issued its quarterly 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. The company had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. New York Times had a return on equity of 17.95% and a net margin of 11.04%. New York Times’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 EPS. Equities research analysts expect that The New York Times Company will post 1.83 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The company also recently announced 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 of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.92%. New York Times’s dividend payout ratio (DPR) is 30.77%.

New York Times Company Profile

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.