Bank of Montreal Can Trims Stock Holdings in The New York Times Company $NYT

Bank of Montreal Can lowered its holdings in The New York Times Company (NYSE:NYT) by 5.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 25,023 shares of the company’s stock after selling 1,509 shares during the quarter. Bank of Montreal Can’s holdings in New York Times were worth $1,401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Hantz Financial Services Inc. grew its stake in New York Times by 4,591.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 563 shares of the company’s stock valued at $32,000 after buying an additional 551 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of New York Times by 690.7% in the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock worth $42,000 after acquiring an additional 739 shares during the period. WPG Advisers LLC purchased a new position in shares of New York Times in the first quarter valued at $60,000. UMB Bank n.a. grew its position in shares of New York Times by 79.3% in the second quarter. UMB Bank n.a. now owns 1,675 shares of the company’s stock valued at $94,000 after purchasing an additional 741 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of New York Times by 20.0% during the 2nd quarter. Blue Trust Inc. now owns 1,769 shares of the company’s stock valued at $99,000 after purchasing an additional 295 shares during the period. 95.37% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the transaction, the executive vice president directly owned 14,470 shares in the company, valued at approximately $868,778.80. This represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

New York Times Price Performance

Shares of NYT opened at $63.94 on Friday. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $64.75. The company has a market capitalization of $10.41 billion, a P/E ratio of 32.96, a P/E/G ratio of 1.41 and a beta of 1.14. The firm’s 50 day simple moving average is $57.76 and its 200 day simple moving average is $56.48.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The firm had revenue of $700.82 million for the quarter, compared to analyst estimates of $692.01 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $0.72 annualized dividend and a yield of 1.1%. New York Times’s payout ratio is 35.12%.

Analysts Set New Price Targets

NYT has been the subject of several analyst reports. Morgan Stanley raised their target price on New York Times from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Citigroup increased their price target on shares of New York Times from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Barclays boosted their price objective on shares of New York Times from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. UBS Group set a $62.00 target price on shares of New York Times in a report on Thursday, November 6th. Finally, Zacks Research cut shares of New York Times from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.57.

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.