New York State Teachers Retirement System Trims Stock Holdings in The New York Times Company (NYSE:NYT)

New York State Teachers Retirement System cut its position in The New York Times Company (NYSE:NYT) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 161,499 shares of the company’s stock after selling 4,100 shares during the period. New York State Teachers Retirement System’s holdings in New York Times were worth $8,406,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of NYT. UMB Bank n.a. increased its holdings in New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after buying an additional 283 shares during the period. GAMMA Investing LLC increased its stake in shares of New York Times by 20.2% in the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock worth $131,000 after acquiring an additional 424 shares during the period. Portfolio Design Labs LLC acquired a new position in New York Times during the fourth quarter valued at $202,000. Empower Advisory Group LLC acquired a new position in New York Times during the third quarter valued at $205,000. Finally, Synergy Financial Group LTD purchased a new stake in New York Times in the third quarter valued at $217,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Price Performance

Shares of NYSE:NYT opened at $49.20 on Wednesday. The business’s 50 day moving average price is $52.58 and its 200-day moving average price is $53.85. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. On average, sell-side analysts expect that The New York Times Company will post 2.07 earnings per share for the current year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.46%. The ex-dividend date is Tuesday, April 1st. New York Times’s payout ratio is 29.21%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NYT. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley decreased their price target on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upped their price objective on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.71.

New York Times Company Profile

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.