New York State Common Retirement Fund Reduces Stock Holdings in The New York Times Company (NYSE:NYT)

New York State Common Retirement Fund lowered its position in The New York Times Company (NYSE:NYT) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 458,434 shares of the company’s stock after selling 19,010 shares during the quarter. New York State Common Retirement Fund owned about 0.28% of New York Times worth $22,459,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new stake in New York Times during the third quarter worth approximately $613,000. Oak Thistle LLC acquired a new stake in New York Times during the third quarter worth approximately $816,000. Robeco Institutional Asset Management B.V. raised its holdings in New York Times by 127.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 41,450 shares of the company’s stock worth $1,708,000 after purchasing an additional 23,250 shares in the last quarter. Xponance Inc. raised its holdings in New York Times by 13.0% during the third quarter. Xponance Inc. now owns 22,468 shares of the company’s stock worth $926,000 after purchasing an additional 2,586 shares in the last quarter. Finally, Joel Isaacson & Co. LLC acquired a new stake in New York Times during the third quarter worth approximately $245,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

NYT has been the topic of a number of research analyst reports. Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, March 4th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Finally, Citigroup started coverage on shares of New York Times in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.67.

Insider Activity at New York Times

In related news, EVP Diane Brayton sold 7,000 shares of New York Times stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the transaction, the executive vice president now directly owns 39,312 shares in the company, valued at approximately $1,684,126.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Diane Brayton sold 7,000 shares of New York Times stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the transaction, the executive vice president now directly owns 39,312 shares in the company, valued at approximately $1,684,126.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David S. Perpich sold 3,014 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total transaction of $132,706.42. Following the sale, the director now owns 20,813 shares in the company, valued at $916,396.39. The disclosure for this sale can be found here. Insiders have sold a total of 23,557 shares of company stock worth $1,029,968 in the last three months. Insiders own 2.00% of the company’s stock.

New York Times Trading Down 0.2 %

Shares of NYT opened at $43.16 on Friday. The firm has a market cap of $7.08 billion, a PE ratio of 31.05 and a beta of 1.01. The company’s 50 day simple moving average is $43.26 and its 200-day simple moving average is $44.74. The New York Times Company has a 12-month low of $35.06 and a 12-month high of $49.87.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.10. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The firm had revenue of $676.20 million for the quarter, compared to analyst estimates of $680.02 million. During the same period last year, the firm posted $0.65 EPS. New York Times’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts forecast that The New York Times Company will post 1.64 EPS for the current fiscal year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.20%. This is a positive change from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, April 1st. New York Times’s dividend payout ratio (DPR) is 37.41%.

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.