Johnson Investment Counsel Inc. Sells 13,584 Shares of The New York Times Company $NYT

Johnson Investment Counsel Inc. cut its position in The New York Times Company (NYSE:NYT) by 28.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,915 shares of the company’s stock after selling 13,584 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in New York Times were worth $1,955,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in 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 purchasing an additional 739 shares in the last quarter. WPG Advisers LLC bought a new position in New York Times in the first quarter worth about $60,000. UMB Bank n.a. raised its holdings in New York Times by 79.3% in the second quarter. UMB Bank n.a. now owns 1,675 shares of the company’s stock worth $94,000 after purchasing an additional 741 shares in the last quarter. Blue Trust Inc. raised its holdings in New York Times by 20.0% in 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 in the last quarter. Finally, Bartlett & CO. Wealth Management LLC bought a new position in New York Times in the first quarter worth about $99,000. 95.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 sale, the executive vice president owned 14,470 shares in the company, valued at $868,778.80. This represents a 27.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Bardeen sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total value of $290,200.00. Following the completion of the sale, the executive vice president owned 11,243 shares in the company, valued at approximately $652,543.72. This represents a 30.78% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NYT has been the subject of a number of recent research reports. Evercore ISI boosted their target price on shares of New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Guggenheim boosted their target price on shares of New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Zacks Research downgraded shares of New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Barclays set a $52.00 price target on New York Times and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Finally, Morgan Stanley boosted their price target on New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.33.

New York Times Stock Performance

Shares of NYT stock opened at $55.08 on Tuesday. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $62.24. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 1.38 and a beta of 1.16. The stock’s 50-day simple moving average is $58.15 and its 200-day simple moving average is $54.92.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, August 6th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $685.90 million for 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%.New York Times’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, equities analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th will be given a $0.18 dividend. The ex-dividend date is Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. New York Times’s dividend payout ratio is currently 37.11%.

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.