On April 28, 2023, The Bank of Montreal Can announced that it raised its holdings in The New York Times Company by a staggering 17.0% in the fourth quarter. The Canadian banking institution disclosed that it acquired an additional 4,354 shares of the company’s stock, bringing its total number of shares to 29,966. As of the most recent SEC filing, these holdings were valued at $983,000.
The move by Bank of Montreal is an indication of growing confidence in the future prospects of The New York Times Company. Although this investment may appear conservative and limited when compared to other holdings in high-risk ventures, such as cryptocurrencies or alternative energy stocks, it speaks volumes about the stability and profitability offered by traditional industries such as media.
The New York Times Company has been performing well recently both financially and from a strategic perspective. It has expanded beyond traditional newsprint journalism to embrace digital platforms and has done so with great success; their online subscription model is working so well that for the first time ever, digital-only subscriptions revenue was greater than print advertising revenue.
Currently sitting at $39.19 per share on Friday morning (April 28), The New York Times Company’s stock prices reveal both its one-year low ($27.58) and highs ($42.40). With a market capitalization of $6.45 billion and a price-to-earnings ratio standing at approximately 37.32 along with a beta score of .99, indicates that investors are willing to purchase its shares expecting higher growth returns.
As previously mentioned earlier this week on Thursday April 20th,the company paid out its most recent quarterly dividend following last quarter’s filings having purchased additional shares of stock during Q4 which brings their yield up to just over1%. Shareholders who were registered before Wednesday April 5th would have received an amounting dividend payout of $0.11 dollars per share.This increase to USD 0.44 per share on an annualized basis is a positive change from the previous quarter and has come as welcome news to those who closely watch the movements of the wider media industry.
In conclusion, Bank of Montreal Can’s recent investment in The New York Times Company speaks to the strength of traditional media as well as its inherent potential for long-term growth. With their increase in stock ownership and improved dividend payouts, it’s evident that investors continue to have faith in this stalwart institution.
Institutional and Hedge Fund Investors Make Moves on New York Times Shares While Company Shows Strong Q4 Earnings and Buyback Plan
The New York Times (NYSE: NYT) has been experiencing significant changes in its owned shares by institutional investors and hedge funds. Signaturefd LLC increased its position by 52% during the third quarter of 2022, now owning 1,144 shares worth $33,000. Wipfli Financial Advisors LLC acquired a new stake during the same period, investing $40,000 in New York Times. FourThought Financial LLC followed next with an investment of $46,000 while CWM LLC increase its position by 37.7%, making it the owner of 1,709 shares worth $49,000. Lastly, EverSource Wealth Advisors LLC also showed interest and invested $60,000 in a new stake.
Additionally, CFO Roland A. Caputo sold 12,500 shares of New York Times’ stock on Friday, February 10th at an average price of $39.44 resulting in a transaction worth $493,000. After this sale, Mr Caputo kept 62,853 company’s shares valued at $2,478,922.32; the transaction was disclosed via a filing with Securities & Exchange Commission accessed through their website. On the other hand and relatedly CEO Levien Meredith A Kopit sold approximately three times more shares than CFO Caputo on Friday February 17th when she sold off about 30 thousand stocks worth nearly 1 million dollars ($1m). This accounts for almost two-thirds of her holdings which parades clear intentions to trash it all out.
In earnings news for Q4/2022 on Wednesday February the eighth befitting results were reported showing earnings-per-share figure at just over forty-four cents per share ($0.44), representing an over-achievement from analysts’ really conservative estimates that pegged it around twenty-one cents per share ($0.21). Additionally solid margins were delivered upon reflected by net income percentage coming in at around 7.5% and a 13.74% return-on-equity margin.
Finally, NY Times disclosed the buyback of approximately $250 million of its outstanding shares on Wednesday February 8th, 2023 which represents an increase in their current capital structure. Share buybacks are usually undertaken by companies when there is a perceived under-valuation of their stock prices which translates to an upward potential for returns for internal shareholders (in this case corporate insiders). Overall, New York Times is currently seen as steady entity balancing its growth acquisitions with its return-to-investors side by perfectly executing their capital investment strategy; things are looking up for sure going forward into the near to medium term future hence it could be said that the medium-term outlook is optimistic at how stock buyers are now bullish with proceedings looking promising for both investors and stakeholders alike.
