AIA Group Ltd Sells 1,489 Shares of The New York Times Company (NYSE:NYT)

AIA Group Ltd cut its position in The New York Times Company (NYSE:NYT) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,715 shares of the company’s stock after selling 1,489 shares during the quarter. AIA Group Ltd’s holdings in New York Times were worth $3,954,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new position in New York Times in the fourth quarter valued at about $27,000. Compass Wealth Management LLC bought a new position in shares of New York Times during the fourth quarter worth about $30,000. DekaBank Deutsche Girozentrale bought a new position in shares of New York Times during the third quarter worth about $37,000. Belpointe Asset Management LLC raised its position in shares of New York Times by 31.9% during the first quarter. Belpointe Asset Management LLC now owns 1,510 shares of the company’s stock worth $59,000 after acquiring an additional 365 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of New York Times during the third quarter worth about $63,000. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NYT shares. Citigroup started coverage on New York Times in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective for the company. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Monday, March 4th. Finally, StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.67.

Insider Activity at New York Times

In related news, EVP Diane Brayton sold 7,000 shares of New York Times stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director David S. Perpich sold 3,014 shares of New York Times stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total transaction of $132,706.42. Following the sale, the director now directly owns 20,813 shares in the company, valued at $916,396.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Diane Brayton sold 7,000 shares of New York Times stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total value of $299,880.00. Following the sale, the executive vice president now owns 39,312 shares in the company, valued at $1,684,126.08. The disclosure for this sale can be found here. Insiders have sold a total of 23,557 shares of company stock valued at $1,029,968 over the last 90 days. Insiders own 2.00% of the company’s stock.

New York Times Trading Up 0.2 %

NYT stock traded up $0.10 during mid-day trading on Thursday, reaching $41.71. The company’s stock had a trading volume of 410,856 shares, compared to its average volume of 1,279,857. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 29.93 and a beta of 1.01. The business’s 50 day moving average price is $43.43 and its 200 day moving average price is $44.69. The New York Times Company has a 12 month low of $35.06 and a 12 month high of $49.87.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.10. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The business had revenue of $676.20 million during the quarter, compared to the consensus estimate of $680.02 million. During the same period in the previous year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts expect that The New York Times Company will post 1.64 EPS for the current fiscal year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd will be given a dividend of $0.13 per share. This is a boost from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date is Monday, April 1st. This represents a $0.52 annualized dividend and a dividend yield of 1.25%. New York Times’s payout ratio is presently 37.41%.

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.