MetLife Investment Management LLC Lowers Holdings in The New York Times Company (NYSE:NYT)

MetLife Investment Management LLC reduced its position in shares of The New York Times Company (NYSE:NYT) by 1.9% in the third quarter, Holdings Channel reports. The firm owned 84,431 shares of the company’s stock after selling 1,631 shares during the period. MetLife Investment Management LLC’s holdings in New York Times were worth $4,700,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Darsana Capital Partners LP increased its stake in New York Times by 25.0% in the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after acquiring an additional 1,250,000 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of New York Times by 19.8% in the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after purchasing an additional 482,200 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in New York Times by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock valued at $124,164,000 after purchasing an additional 438,680 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in New York Times by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,862,569 shares of the company’s stock valued at $103,689,000 after purchasing an additional 7,654 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in New York Times by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 1,660,015 shares of the company’s stock valued at $85,009,000 after purchasing an additional 19,196 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Stock Down 0.2 %

Shares of NYSE:NYT opened at $54.26 on Monday. The stock has a market cap of $8.90 billion, a PE ratio of 32.11, a PEG ratio of 1.72 and a beta of 1.02. The company’s fifty day moving average is $54.82 and its 200 day moving average is $53.27. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $57.08.

New York Times (NYSE:NYT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The firm had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that The New York Times Company will post 1.84 EPS for the current year.

New York Times Announces Dividend

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

Wall Street Analysts Forecast Growth

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

About New York Times

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.