Brighton Jones LLC Increases Stake in The New York Times Company $NYT

Brighton Jones LLC increased its holdings in shares of The New York Times Company (NYSE:NYT) by 169.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,813 shares of the company’s stock after purchasing an additional 11,827 shares during the quarter. Brighton Jones LLC’s holdings in New York Times were worth $1,053,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its position in New York Times by 690.7% in the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock valued at $42,000 after acquiring an additional 739 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of New York Times during the first quarter worth approximately $60,000. UMB Bank n.a. grew its position in shares of New York Times by 79.3% during the second quarter. UMB Bank n.a. now owns 1,675 shares of the company’s stock worth $94,000 after buying an additional 741 shares in the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in New York Times during the first quarter worth $99,000. Finally, Blue Trust Inc. lifted its stake in New York Times by 20.0% during the second quarter. Blue Trust Inc. now owns 1,769 shares of the company’s stock worth $99,000 after purchasing an additional 295 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Activity at New York Times

In other news, EVP William Bardeen sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total transaction of $290,200.00. Following the completion of the transaction, the executive vice president directly owned 11,243 shares in the company, valued at $652,543.72. The trade was a 30.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jacqueline M. Welch sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the transaction, the executive vice president owned 14,470 shares of the company’s stock, valued at approximately $868,778.80. This trade represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NYT has been the topic of a number of recent research reports. Evercore ISI raised their target price on New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Zacks Research lowered New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Morgan Stanley lifted their target price on New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a report on Wednesday, October 8th. Finally, Guggenheim lifted their price target on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

New York Times Price Performance

Shares of New York Times stock opened at $57.41 on Tuesday. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 29.59, a P/E/G ratio of 1.44 and a beta of 1.16. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24. The stock has a 50-day simple moving average of $57.66 and a 200-day simple moving average of $55.51.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The business had revenue of $685.90 million during the quarter, compared to analyst estimates of $670.22 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. As a group, equities research analysts predict that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, October 8th. New York Times’s payout ratio is 37.11%.

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.