Wellington Management Group LLP Sells 1,155,059 Shares of The New York Times Company $NYT

Wellington Management Group LLP trimmed its holdings in shares of The New York Times Company (NYSE:NYT) by 27.4% during the 2nd quarter, Holdings Channel reports. The fund owned 3,062,504 shares of the company’s stock after selling 1,155,059 shares during the period. Wellington Management Group LLP’s holdings in New York Times were worth $214,314,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NYT. Resona Asset Management Co. Ltd. bought a new position in shares of New York Times during the first quarter valued at approximately $1,752,000. Genus Capital Management Inc. bought a new position in New York Times in the fourth quarter worth approximately $4,945,000. LGT Fund Management Co Ltd. raised its stake in New York Times by 27.8% in the first quarter. LGT Fund Management Co Ltd. now owns 70,463 shares of the company’s stock worth $5,900,000 after buying an additional 15,321 shares in the last quarter. Geode Capital Management LLC lifted its holdings in New York Times by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 3,922,565 shares of the company’s stock worth $272,347,000 after buying an additional 50,389 shares during the period. Finally, UBS Group AG boosted its position in New York Times by 328.8% during the 4th quarter. UBS Group AG now owns 525,124 shares of the company’s stock valued at $36,454,000 after acquiring an additional 402,660 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

More New York Times News

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: NYT continues publishing high-interest coverage across politics, markets, science, international crises and sports, including extensive reporting on the Federal Reserve, Iran, Nepal flooding and Premier League soccer. Broad, timely coverage may support reader engagement and digital subscription value, although the articles do not provide evidence of an immediate revenue impact. Investors Expect Higher Rates After Fed Chairman’s Inflation Pledge
• Neutral Sentiment: Coverage of the proposed rollback of S.E.C. quarterly-reporting rules highlights the importance of independent financial journalism and could reinforce the value of NYT’s business reporting, but it does not directly change the company’s financial outlook. Proposed Rollback of S.E.C. Rules Raises Fears of Another Enron Crisis
• Negative Sentiment: Investors are expecting higher interest rates after the Federal Reserve emphasized inflation risks. Higher rates can pressure richly valued media stocks such as NYT by reducing the present value of future cash flows and potentially weighing on advertising and consumer spending. Fed Chairman Seeks to Calm Concerns About Elevated Inflation
• Negative Sentiment: Continued reporting on the six-month Iran war and its effects on oil, gas and financial markets points to persistent geopolitical and economic uncertainty. Such volatility could create a less favorable advertising environment, though it may also increase demand for news subscriptions. How 6 Months of War in Iran Jolted Oil, Gas, Stocks and More

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NYT shares. Zacks Research downgraded New York Times from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Morgan Stanley set a $90.00 price objective on New York Times in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their target price on New York Times from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Evercore reiterated an “outperform” rating and issued a $92.00 target price on shares of New York Times in a report on Thursday, May 7th. Finally, UBS Group set a $75.00 price target on shares of New York Times in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.33.

New York Times Trading Up 0.1%

Shares of NYT stock opened at $68.20 on Monday. The New York Times Company has a 12-month low of $54.10 and a 12-month high of $87.10. The business’s fifty day simple moving average is $70.74 and its 200-day simple moving average is $75.61. The company has a market cap of $11.00 billion, a PE ratio of 28.42, a PEG ratio of 1.76 and a beta of 0.95.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. New York Times had a return on equity of 22.64% and a net margin of 13.19%.The firm had revenue of $762.46 million during the quarter, compared to analysts’ expectations of $752.01 million. During the same quarter last year, the firm earned $0.58 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts forecast that The New York Times Company will post 2.84 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Wednesday, July 8th were paid a $0.23 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $0.92 dividend on an annualized basis and a yield of 1.3%. New York Times’s dividend payout ratio (DPR) is 38.33%.

Insiders Place Their Bets

In other New York Times news, EVP Jacqueline M. Welch sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total value of $296,560.00. Following the completion of the sale, the executive vice president owned 23,873 shares of the company’s stock, valued at approximately $1,769,944.22. This trade represents a 14.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.

New York Times Profile

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.