PNC Financial Services Group Inc. Sells 223 Shares of The New York Times Company (NYSE:NYT)

PNC Financial Services Group Inc. trimmed its position in The New York Times Company (NYSE:NYT) by 1.2% during the third quarter, HoldingsChannel.com reports. The fund owned 18,743 shares of the company’s stock after selling 223 shares during the period. PNC Financial Services Group Inc.’s holdings in New York Times were worth $1,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. raised its holdings in New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC raised its stake in New York Times by 129.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after buying an additional 792 shares during the period. Signaturefd LLC lifted its holdings in New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after acquiring an additional 432 shares in the last quarter. Blue Trust Inc. grew its stake in New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after acquiring an additional 1,800 shares during the period. Finally, Paladin Wealth LLC bought a new stake in shares of New York Times in the third quarter worth about $172,000. Institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NYT. Barclays lifted their price objective on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.83.

New York Times Stock Performance

Shares of New York Times stock opened at $54.38 on Thursday. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $57.08. The business’s 50 day simple moving average is $54.83 and its 200 day simple moving average is $53.15. The firm has a market cap of $8.92 billion, a PE ratio of 32.18, a P/E/G ratio of 1.75 and a beta of 1.02.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The company had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. During the same period last year, the company earned $0.37 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that The New York Times Company will post 1.84 EPS for the current year.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.96%. New York Times’s dividend payout ratio is 30.77%.

New York Times 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.