New York Life Investment Management LLC Raises Holdings in The New York Times Company (NYSE:NYT)

New York Life Investment Management LLC lifted its stake in The New York Times Company (NYSE:NYT) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,193 shares of the company’s stock after buying an additional 1,105 shares during the quarter. New York Life Investment Management LLC’s holdings in New York Times were worth $891,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Covestor Ltd boosted its stake in shares of New York Times by 9.6% in the third quarter. Covestor Ltd now owns 2,659 shares of the company’s stock worth $110,000 after buying an additional 232 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of New York Times by 2.3% in the third quarter. Fifth Third Bancorp now owns 12,134 shares of the company’s stock worth $500,000 after buying an additional 276 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in New York Times by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 70,924 shares of the company’s stock worth $2,922,000 after purchasing an additional 360 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in New York Times by 1.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 24,576 shares of the company’s stock worth $1,013,000 after purchasing an additional 420 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in New York Times by 1.6% during the third quarter. Victory Capital Management Inc. now owns 29,091 shares of the company’s stock worth $1,199,000 after purchasing an additional 458 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

Shares of New York Times stock opened at $47.73 on Thursday. The business has a 50 day simple moving average of $43.49 and a two-hundred day simple moving average of $44.89. The New York Times Company has a 12 month low of $35.06 and a 12 month high of $49.87. The stock has a market capitalization of $7.83 billion, a P/E ratio of 34.34 and a beta of 1.00.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, May 8th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The business had revenue of $594.00 million during the quarter, compared to analysts’ expectations of $591.97 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that The New York Times Company will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at New York Times

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $44.11, for a total value of $597,381.73. Following the completion of the sale, the chief executive officer now owns 90,759 shares of the company’s stock, valued at $4,003,379.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director David S. Perpich sold 3,014 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the sale, the director now owns 20,813 shares of the company’s stock, valued at $916,396.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $44.11, for a total value of $597,381.73. Following the completion of the sale, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,557 shares of company stock valued at $1,029,968. 2.00% of the stock is currently owned by insiders.

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.