Artisan Partners Limited Partnership Sells 1,824,214 Shares of The New York Times Company (NYSE:NYT)

Artisan Partners Limited Partnership cut its holdings in The New York Times Company (NYSE:NYTGet Rating) by 46.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,095,799 shares of the company’s stock after selling 1,824,214 shares during the period. Artisan Partners Limited Partnership’s holdings in New York Times were worth $58,473,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Stephens Inc. AR raised its position in New York Times by 1.7% in the first quarter. Stephens Inc. AR now owns 15,683 shares of the company’s stock worth $719,000 after acquiring an additional 267 shares during the period. Exchange Traded Concepts LLC raised its position in New York Times by 2.3% in the second quarter. Exchange Traded Concepts LLC now owns 14,430 shares of the company’s stock worth $403,000 after acquiring an additional 328 shares during the period. Profund Advisors LLC raised its position in New York Times by 3.6% in the first quarter. Profund Advisors LLC now owns 9,869 shares of the company’s stock worth $452,000 after acquiring an additional 340 shares during the period. PNC Financial Services Group Inc. raised its position in New York Times by 1.7% in the first quarter. PNC Financial Services Group Inc. now owns 21,607 shares of the company’s stock worth $991,000 after acquiring an additional 354 shares during the period. Finally, Vontobel Holding Ltd. raised its position in New York Times by 1.7% in the second quarter. Vontobel Holding Ltd. now owns 22,679 shares of the company’s stock worth $645,000 after acquiring an additional 379 shares during the period. 97.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on NYT. Morgan Stanley decreased their price objective on shares of New York Times from $40.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, August 4th. StockNews.com began coverage on shares of New York Times in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.93.

New York Times Stock Down 0.3 %

Shares of NYSE:NYT opened at $35.20 on Thursday. The New York Times Company has a 52 week low of $27.58 and a 52 week high of $48.61. The stock has a market capitalization of $5.82 billion, a P/E ratio of 34.18 and a beta of 0.96. The firm has a fifty day simple moving average of $31.08 and a two-hundred day simple moving average of $31.26.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 21st. Shareholders of record on Monday, October 10th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.02%. New York Times’s payout ratio is currently 34.95%.

Insiders Place Their Bets

In other news, Director David S. Perpich sold 6,478 shares of the firm’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $35.71, for a total value of $231,329.38. Following the completion of the sale, the director now owns 19,699 shares in the company, valued at approximately $703,451.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

New York Times Company Profile

(Get Rating)

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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Institutional Ownership by Quarter for New York Times (NYSE:NYT)

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