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

Moloney Securities Asset Management LLC has reduced its ownership in The New York Times Company (NYSE:NYT - Free Report) by 34.3% during the fourth quarter, as indicated by the latest Form 13F filed with the Securities & Exchange Commission. Following the sale of 6,422 shares during this period, the fund now holds a total of 12,274 shares of The New York Times Company, which are valued at approximately $639,000 according to the most recent SEC filing.

Several other institutional investors have also been adjusting their holdings in the company recently. For example, Assenagon Asset Management S.A. significantly increased its stake in The New York Times by 582.1% in the third quarter. As a result, the firm now owns 361,235 shares valued at $20,110,000 after acquiring an additional 308,277 shares last quarter. Additionally, Clark & Stuart Inc initiated a new investment in The New York Times during the 4th quarter, estimated at $8,490,000. FMR LLC also increased its holdings by 41.9% during the third quarter to own 524,032 shares worth $29,173,000 after purchasing an extra 154,822 shares. Geode Capital Management LLC raised its stake by 4.1% this past quarter, now owning 3,932,816 shares valued at $218,978,000 after acquiring an additional 154,509 shares. Lastly, Braun Stacey Associates Inc. entered into a new position in The New York Times in the third quarter, with an investment of $8,266,000. In total, hedge funds and other institutional investors hold a significant 95.37% of the company’s stock.

Analyst Opinions on The New York Times

Recently, several financial analysts have commented on the shares of The New York Times. Morgan Stanley revised its price target from $56.00 to $54.00, maintaining an "equal weight" rating. Conversely, JPMorgan Chase & Co. adjusted their target upwards from $58.00 to $62.00, assigning an "overweight" rating. Similar sentiment was echoed by Deutsche Bank Aktiengesellschaft, which raised its target from $65.00 to $66.00, alongside a "buy" recommendation. However, StockNews.com recently downgraded the rating from "buy" to "hold." Overall, three analysts classify the stock as a hold while five suggest a buy, leading to an average rating of "Moderate Buy" with a consensus target price set at $54.71.

The New York Times Stock Performance

As of Monday, shares of The New York Times opened at $48.79. The stock has a 50-day moving average of $53.20 and a 200-day moving average 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 stands at $8.00 billion, with a price-to-earnings (P/E) ratio of 27.41 and a P/E to growth (P/E/G) ratio of 1.35, alongside a beta of 1.01.

The New York Times Company recently reported its quarterly earnings, showcasing an earnings per share (EPS) of $0.80, surpassing the analysts' expectations of $0.74 by $0.06. The company recorded a return on equity of 18.51% and a net margin of 11.36%. Analysts forecast that The New York Times Company will achieve an EPS of 2.07 for the current year.

Dividend Announcement

The company has also announced a quarterly dividend to be distributed on Thursday, April 17th. Shareholders recorded by April 1st will receive a dividend of $0.18, up from a prior dividend of $0.13. This adjustment signifies an annualized dividend of $0.72, translating to a dividend yield of 1.48%. The ex-dividend date is set for April 1st, and the current dividend payout ratio (DPR) stands at 29.21%.

About The New York Times Company

The New York Times Company, with its various subsidiaries, is dedicated to the creation, collection, and dissemination of news and information globally. The company operates through two segments: The New York Times Group and The Athletic. It delivers content via its mobile app, official website, printed newspaper, and associated platforms such as podcasts.

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