Swiss National Bank Has $12.97 Million Holdings in The New York Times Company (NYSE:NYT)

Posted by Defense World Staff on May 15th, 2023

Swiss National Bank grew its holdings in shares of The New York Times Company (NYSE:NYT – Get Rating) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 399,600 shares of the company’s stock after purchasing an additional 4,300 shares during the period. Swiss National Bank owned about 0.24% of New York Times worth $12,971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Stockbridge Partners LLC boosted its position in New York Times by 61.5% in the first quarter. Stockbridge Partners LLC now owns 6,490,990 shares of the company’s stock valued at $297,547,000 after buying an additional 2,470,866 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of New York Times by 31.9% during the first quarter. Wellington Management Group LLP now owns 5,741,738 shares of the company’s stock valued at $263,201,000 after acquiring an additional 1,389,189 shares during the last quarter. Farallon Capital Management LLC raised its stake in shares of New York Times by 13.8% during the third quarter. Farallon Capital Management LLC now owns 7,828,073 shares of the company’s stock valued at $225,057,000 after acquiring an additional 947,269 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of New York Times by 34.1% during the second quarter. Goldman Sachs Group Inc. now owns 2,084,874 shares of the company’s stock valued at $58,168,000 after acquiring an additional 529,582 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of New York Times by 25.4% during the first quarter. Northern Trust Corp now owns 2,187,378 shares of the company’s stock valued at $100,269,000 after acquiring an additional 443,684 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

Insider Transactions at New York Times

In other news, CEO Levien Meredith A. Kopit sold 29,758 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $40.05, for a total value of $1,191,807.90. Following the completion of the sale, the chief executive officer now directly owns 74,610 shares of the company’s stock, valued at approximately $2,988,130.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NYT. JPMorgan Chase & Co. lifted their target price on shares of New York Times from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 15th. StockNews.com cut shares of New York Times from a “buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley lifted their price objective on shares of New York Times from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, February 9th. Finally, Barclays reduced their price objective on shares of New York Times from $36.00 to $33.00 in a report on Friday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $36.58.

New York Times Price Performance

Shares of NYSE:NYT opened at $36.68 on Monday. The company’s fifty day moving average price is $38.46 and its 200-day moving average price is $36.30. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 31.90 and a beta of 0.99. The New York Times Company has a one year low of $27.58 and a one year high of $42.40.

New York Times (NYSE:NYT – Get Rating) last released its earnings results on Wednesday, May 10th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The company had revenue of $560.74 million for the quarter, compared to analyst estimates of $564.37 million. New York Times had a net margin of 7.53% and a return on equity of 13.74%. During the same quarter last year, the firm earned $0.19 EPS. As a group, equities research analysts expect that The New York Times Company will post 1.27 EPS for the current year.

New York Times announced that its Board of Directors has approved a share repurchase program on Wednesday, February 8th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

About New York Times

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The New York Times Co is a media organization, which engages in creating, collecting, and distributing news and information. It offers news products and other interest-specific products, and related content and services. It offers newspapers, print, and digital products and investments. The firm also manages The New York Times, NYTimes.com, and mobile applications.