The New York Times Company $NYT Holdings Raised by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its stake in The New York Times Company (NYSE:NYT) by 14.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,315 shares of the company’s stock after purchasing an additional 23,710 shares during the period. Retirement Systems of Alabama owned about 0.12% of New York Times worth $12,123,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NYT. Bessemer Group Inc. boosted its holdings in shares of New York Times by 34.4% during the first quarter. Bessemer Group Inc. now owns 687 shares of the company’s stock worth $58,000 after purchasing an additional 176 shares during the period. Kaufman Rossin Wealth LLC increased its stake in shares of New York Times by 6.9% during the third quarter. Kaufman Rossin Wealth LLC now owns 3,389 shares of the company’s stock valued at $216,000 after buying an additional 219 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of New York Times by 1.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,165 shares of the company’s stock valued at $1,201,000 after buying an additional 242 shares during the period. Kestra Advisory Services LLC raised its holdings in shares of New York Times by 4.1% during the first quarter. Kestra Advisory Services LLC now owns 6,635 shares of the company’s stock valued at $556,000 after acquiring an additional 263 shares in the last quarter. Finally, Waverly Advisors LLC lifted its stake in New York Times by 3.6% in the second quarter. Waverly Advisors LLC now owns 7,608 shares of the company’s stock worth $532,000 after acquiring an additional 267 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NYT. Zacks Research lowered shares of New York Times from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. UBS Group set a $82.00 target price on New York Times in a report on Tuesday, September 15th. Guggenheim upgraded New York Times from a “neutral” rating to a “buy” rating and lifted their price target for the company from $70.00 to $82.00 in a research report on Tuesday, September 15th. Weiss Ratings raised New York Times from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, New Street Research set a $82.00 target price on shares of New York Times in a research report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, New York Times presently has an average rating of “Moderate Buy” and a consensus target price of $82.80.

New York Times Stock Performance

NYSE NYT opened at $71.53 on Friday. The New York Times Company has a one year low of $58.87 and a one year high of $87.10. The stock has a 50-day moving average of $67.65 and a 200 day moving average of $73.26. The company has a market capitalization of $11.54 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.80 and a beta of 0.89.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The firm had revenue of $768.54 million for the quarter, compared to the consensus estimate of $767.21 million. New York Times had a net margin of 13.41% and a return on equity of 23.06%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. On average, equities analysts predict that The New York Times Company will post 2.95 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Wednesday, October 7th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $0.92 dividend on an annualized basis and a yield of 1.3%. New York Times’s dividend payout ratio is currently 36.80%.

More New York Times News

Here’s some of the latest news about NYT:

• Positive Sentiment: The company’s recent quarterly results beat consensus on earnings and revenue, with revenue up 9.7% year over year. Its earnings-call coverage also highlighted broad growth, which may support investor confidence. New York Times Earnings Call Signals Broad Growth
• Neutral Sentiment: New York Times journalists invited readers to ask about the newsroom’s use of artificial intelligence. The item signals attention to the topic but does not describe a financial or operational change likely to move the stock. What Do You Want to Know About New York Times Journalism and A.I.

New York Times Company Profile

The New York Times Company is a media organization best known for publishing The New York Times, a newspaper founded in 1851. Based in New York City, the company produces journalism on U.S. and international news, politics, business, culture, science and other subjects. Its offerings include print and digital news, games, cooking content, product reviews through Wirecutter, and sports journalism through The Athletic. The company serves readers in the United States and around the world through its digital platforms and print publications.