63,341 Shares in The New York Times Company (NYSE:NYT) Acquired by Vest Financial LLC

Vest Financial LLC purchased a new position in shares of The New York Times Company (NYSE:NYT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,341 shares of the company’s stock, valued at approximately $3,142,000.

A number of other large investors have also added to or reduced their stakes in NYT. Trust Point Inc. acquired a new stake in New York Times during the fourth quarter worth approximately $292,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of New York Times in the 4th quarter valued at $417,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of New York Times by 18.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,500 shares of the company’s stock valued at $494,000 after purchasing an additional 1,500 shares in the last quarter. Lecap Asset Management Ltd. boosted its holdings in shares of New York Times by 27.6% in the 4th quarter. Lecap Asset Management Ltd. now owns 29,473 shares of the company’s stock valued at $1,534,000 after purchasing an additional 6,376 shares in the last quarter. Finally, Generate Investment Management Ltd acquired a new stake in shares of New York Times in the 4th quarter valued at $4,628,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of NYT opened at $55.85 on Friday. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $58.16. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 1.75 and a beta of 1.13. The stock has a fifty day moving average of $52.11 and a 200-day moving average of $51.73.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $635.91 million during the quarter, compared to analyst estimates of $634.99 million. New York Times had a return on equity of 18.51% and a net margin of 11.36%. New York Times’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. As a group, equities analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

Insider Buying and Selling

In related news, Director David S. Perpich sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total transaction of $224,720.00. Following the completion of the transaction, the director now directly owns 27,569 shares of the company’s stock, valued at $1,548,826.42. This trade represents a 12.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Bardeen sold 2,500 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.83, for a total value of $142,075.00. Following the transaction, the executive vice president now directly owns 16,727 shares of the company’s stock, valued at approximately $950,595.41. This represents a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,490 shares of company stock valued at $479,728 in the last three months. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NYT. Wall Street Zen raised New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Guggenheim increased their price target on New York Times from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

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.