New York State Common Retirement Fund Sells 19,010 Shares of The New York Times Company (NYSE:NYT)

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

A number of other institutional investors and hedge funds have also modified their holdings of the company. Covestor Ltd increased its position in shares of New York Times by 9.6% during the third quarter. Covestor Ltd now owns 2,659 shares of the company’s stock valued at $110,000 after purchasing an additional 232 shares during the period. Fifth Third Bancorp increased its position in shares of New York Times by 2.3% during the third quarter. Fifth Third Bancorp now owns 12,134 shares of the company’s stock valued at $500,000 after purchasing an additional 276 shares during the period. Treasurer of the State of North Carolina increased its position in shares of 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 valued at $2,922,000 after purchasing an additional 360 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in New York Times by 1.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 24,576 shares of the company’s stock valued at $1,013,000 after buying an additional 420 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in New York Times by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 29,091 shares of the company’s stock valued at $1,199,000 after buying an additional 458 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

New York Times Stock Performance

New York Times stock opened at $43.16 on Friday. The firm has a market cap of $7.08 billion, a P/E ratio of 31.05 and a beta of 1.01. The business’s fifty day moving average is $43.26 and its two-hundred day moving average is $44.74. The New York Times Company has a 52 week low of $35.06 and a 52 week high of $49.87.

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

New York Times Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 2nd were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, April 1st. 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. New York Times’s payout ratio is currently 37.41%.

Insiders Place Their Bets

In other news, EVP Diane Brayton sold 7,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Levien Meredith A. Kopit sold 13,543 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the transaction, the chief executive officer now owns 90,759 shares of the company’s stock, valued at $4,003,379.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Diane Brayton sold 7,000 shares of the company’s 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,557 shares of company stock valued at $1,029,968. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

New York Times 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.