Louisiana State Employees Retirement System Makes New $3.92 Million Investment in The New York Times Company $NYT

Louisiana State Employees Retirement System purchased a new stake in shares of The New York Times Company (NYSE:NYT) in the first quarter, HoldingsChannel reports. The firm purchased 46,800 shares of the company’s stock, valued at approximately $3,919,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Berkshire Hathaway Inc purchased a new position in shares of New York Times during the 4th quarter worth approximately $351,664,000. Bank of Montreal Can raised its position in New York Times by 10,018.3% in the fourth quarter. Bank of Montreal Can now owns 2,316,172 shares of the company’s stock valued at $160,789,000 after purchasing an additional 2,293,281 shares during the period. AQR Capital Management LLC lifted its stake in New York Times by 78.1% during the second quarter. AQR Capital Management LLC now owns 4,187,888 shares of the company’s stock worth $233,265,000 after purchasing an additional 1,836,788 shares in the last quarter. Egerton Capital UK LLP acquired a new position in New York Times during the fourth quarter worth $97,882,000. Finally, Two Sigma Investments LP boosted its position in shares of New York Times by 98.5% during the third quarter. Two Sigma Investments LP now owns 2,055,628 shares of the company’s stock worth $117,993,000 after buying an additional 1,020,031 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at New York Times

In related news, Director David S. Perpich sold 9,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $77.06, for a total transaction of $693,540.00. Following the completion of the transaction, the director owned 28,469 shares in the company, valued at approximately $2,193,821.14. The trade was a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jacqueline M. Welch sold 4,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $74.14, for a total value of $296,560.00. Following the completion of the transaction, the executive vice president directly owned 23,873 shares in the company, valued at $1,769,944.22. This trade represents a 14.35% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 17,121 shares of company stock valued at $1,310,920. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NYT. Evercore reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of New York Times in a research note on Thursday, May 7th. Wall Street Zen raised New York Times from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays raised their target price on New York Times from $60.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Guggenheim boosted their price target on shares of New York Times from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of New York Times from $74.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.22.

New York Times Trading Up 3.2%

Shares of NYSE NYT opened at $70.76 on Friday. The stock has a market cap of $11.45 billion, a P/E ratio of 30.37, a PEG ratio of 1.47 and a beta of 0.95. The New York Times Company has a 12-month low of $51.03 and a 12-month high of $87.10. The business’s fifty day simple moving average is $76.03 and its 200-day simple moving average is $75.43.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.12. The company had revenue of $712.24 million for the quarter, compared to analyst estimates of $699.93 million. New York Times had a return on equity of 22.02% and a net margin of 13.18%.New York Times’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. On average, equities analysts forecast that The New York Times Company will post 2.93 EPS for the current fiscal year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Wednesday, July 8th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, July 8th. New York Times’s payout ratio is 39.48%.

Key Stories Impacting New York Times

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Zacks highlighted NYT as a defensive stock pick as inflation stays elevated and rate-hike expectations rise, which could make the company more attractive to investors seeking steadier names. Article Title
• Positive Sentiment: Another Zacks note said NYT may be due for a technical reversal after losing 8.6% over four weeks, with the stock viewed as oversold and analysts still raising earnings estimates. Article Title
• Neutral Sentiment: The New York Times amended its lawsuit against OpenAI and Microsoft, alleging Microsoft encouraged OpenAI to train AI systems on copyrighted Times articles. The case could support long-term monetization of content, but it also adds legal uncertainty. Article Title
• Neutral Sentiment: Most other headlines were newsroom content rather than direct business updates, so they are unlikely to materially affect NYT stock on their own.

New York Times Company Profile

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.