Moloney Securities Asset Management LLC Reduces Stake in The New York Times Company

Moloney Securities Asset Management LLC has reduced its holdings in The New York Times Company (NYSE: NYT) by 34.3% during the fourth quarter, as per their latest Form 13F filing with the Securities and Exchange Commission. After selling 6,422 shares throughout the quarter, the fund now holds 12,274 shares of the company. The value of Moloney Securities’ stake in the New York Times is approximately $639,000 according to the latest SEC records.

A number of other institutional investors have also recently adjusted their stakes in The New York Times Company. For instance, Assenagon Asset Management S.A. dramatically increased its shareholding by 582.1% during the third quarter, resulting in ownership of 361,235 shares valued at $20,110,000 after buying an additional 308,277 shares. Clark & Stuart Inc. established a new position in the fourth quarter worth $8,490,000. Similarly, FMR LLC grown its stake by 41.9%, acquiring 154,822 additional shares to bring their total to 524,032 shares, valued at $29,173,000. Geode Capital Management LLC raised its position by 4.1% during the same quarter and now owns 3,932,816 shares worth $218,978,000. Additionally, Braun Stacey Associates Inc. also made a new investment in The New York Times during the third quarter valued at around $8,266,000. Notably, institutional investors collectively own 95.37% of the company’s shares.

Wall Street Analysts Offer Insights

Recent comments from several brokerages regarding NYT stock have provided interesting insights. Morgan Stanley lowered its price target from $56.00 to $54.00, maintaining an 'equal weight' rating. Meanwhile, JPMorgan Chase & Co. increased their price target from $58.00 to $62.00, awarding the stock an 'overweight' rating. Deutsche Bank Aktiengesellschaft also raised their price target from $65.00 to $66.00, giving the New York Times a 'buy' rating. However, StockNews.com revised its rating from 'buy' to 'hold' recently. In total, three research analysts have rated the stock as a hold, whereas five have given it a buy rating. MarketBeat.com data indicates that the company maintains an average rating of 'Moderate Buy' with a consensus price target set at $54.71.

New York Times Stock Performance

On Monday, shares of The New York Times opened at $48.79. The company has a 50-day moving average price of $53.20 and a 200-day moving average price of $54.00. Over the past year, the stock has seen a low of $41.55 and a high of $58.16. The market capitalization of The New York Times Company is currently $8 billion, with a P/E ratio of 27.41 and a P/E/G ratio of 1.35, alongside a beta of 1.01.

Earnings Information

The New York Times Company last reported its quarterly earnings results on February 5. The company achieved earnings of $0.80 per share, surpassing analysts' consensus estimate of $0.74 by $0.06. Furthermore, The New York Times had a return on equity of 18.51% with a 11.36% net margin. Analysts predict that The New York Times Company will post earnings of approximately $2.07 per share for the current fiscal year.

Dividend Announcement

Additionally, the company has declared a quarterly dividend, scheduled to be paid on April 17. Shareholders on record as of April 1 will receive a dividend of $0.18, marking an increase from the previous quarterly dividend of $0.13. On an annual basis, this equates to a dividend of $0.72, yielding 1.48%. The ex-dividend date is also set for April 1, with the current dividend payout ratio standing at 29.21%.

Overview of The New York Times Company

The New York Times Company operates in the news and information distribution sector, offering its content through various platforms such as its mobile app, website, printed newspaper, and associated media like podcasts.

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