8,706 Shares in The New York Times Company (NYSE:NYT) Bought by Copley Financial Group Inc.

Copley Financial Group Inc. acquired a new position in shares of The New York Times Company (NYSE:NYT) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 8,706 shares of the company’s stock, valued at approximately $485,000.

Other large investors have also recently bought and sold shares of the company. Darsana Capital Partners LP raised its holdings in shares of New York Times by 25.0% during the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after buying an additional 1,250,000 shares in the last quarter. Renaissance Technologies LLC raised its stake in New York Times by 19.8% during the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after acquiring an additional 482,200 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of New York Times by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after acquiring an additional 438,680 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of New York Times by 582.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 361,235 shares of the company’s stock valued at $20,110,000 after purchasing an additional 308,277 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of New York Times by 964.9% during the 2nd quarter. Bank of Montreal Can now owns 266,079 shares of the company’s stock valued at $13,637,000 after purchasing an additional 241,093 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NYT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, New York Times has a consensus rating of “Moderate Buy” and an average price target of $54.83.

New York Times Stock Performance

Shares of NYT traded down $0.45 during mid-day trading on Friday, reaching $54.86. 35,848 shares of the company were exchanged, compared to its average volume of 1,133,686. The business has a 50 day simple moving average of $54.81 and a two-hundred day simple moving average of $53.58. The stock has a market capitalization of $8.99 billion, a PE ratio of 32.73, a PEG ratio of 1.75 and a beta of 1.00. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16.

New York Times (NYSE:NYT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) 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 firm had revenue of $640.20 million during the quarter, compared to analyst estimates of $641.00 million. During the same quarter last year, the business earned $0.37 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, analysts predict that The New York Times Company will post 1.84 EPS for the current year.

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.95%. New York Times’s dividend payout ratio (DPR) is currently 30.77%.

New York Times 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.