MetLife Investment Management LLC Sells 1,631 Shares of The New York Times Company (NYSE:NYT)

MetLife Investment Management LLC cut its holdings in shares of The New York Times Company (NYSE:NYT) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,431 shares of the company’s stock after selling 1,631 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of New York Times worth $4,700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC increased its holdings in New York Times by 72.9% during the 1st quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock worth $5,308,000 after purchasing an additional 51,801 shares in the last quarter. Comerica Bank grew its holdings in New York Times by 15.6% during the first quarter. Comerica Bank now owns 83,282 shares of the company’s stock worth $3,599,000 after buying an additional 11,234 shares in the last quarter. Comgest Global Investors S.A.S. grew its holdings in New York Times by 3.2% during the third quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company’s stock worth $25,721,000 after buying an additional 14,407 shares in the last quarter. Tidal Investments LLC lifted its stake in New York Times by 391.9% during the 1st quarter. Tidal Investments LLC now owns 25,009 shares of the company’s stock valued at $1,081,000 after acquiring an additional 19,925 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in New York Times by 17.2% during the 2nd quarter. Algert Global LLC now owns 106,623 shares of the company’s stock worth $5,460,000 after acquiring an additional 15,655 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

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

New York Times Stock Down 0.2 %

New York Times stock opened at $54.26 on Monday. The firm has a 50 day moving average price of $54.82 and a 200-day moving average price of $53.27. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $57.08. The company has a market capitalization of $8.90 billion, a P/E ratio of 32.11, a P/E/G ratio of 1.72 and a beta of 1.02.

New York Times (NYSE:NYT) last issued its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping 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 firm had revenue of $640.20 million during the quarter, compared to analyst estimates of $641.00 million. During the same quarter last year, the business earned $0.37 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts expect that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 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.