Mutual of America Capital Management LLC Has $4.96 Million Position in The New York Times Company (NYSE:NYT)

Mutual of America Capital Management LLC cut its position in The New York Times Company (NYSE:NYT) by 4.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 101,156 shares of the company’s stock after selling 5,212 shares during the quarter. Mutual of America Capital Management LLC’s holdings in New York Times were worth $4,956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of New York Times in the 3rd quarter valued at approximately $578,000. Northstar Group Inc. bought a new stake in shares of New York Times during the 4th quarter valued at approximately $218,000. Trillium Asset Management LLC grew its holdings in shares of New York Times by 16.4% during the 3rd quarter. Trillium Asset Management LLC now owns 148,723 shares of the company’s stock valued at $6,127,000 after purchasing an additional 20,941 shares during the last quarter. Burgundy Asset Management Ltd. grew its holdings in shares of New York Times by 17.1% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 756,812 shares of the company’s stock valued at $31,181,000 after purchasing an additional 110,706 shares during the last quarter. Finally, Baillie Gifford & Co. grew its holdings in shares of New York Times by 9.7% during the 3rd quarter. Baillie Gifford & Co. now owns 922,490 shares of the company’s stock valued at $38,007,000 after purchasing an additional 81,217 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Price Performance

NYT opened at $42.42 on Monday. The New York Times Company has a fifty-two week low of $35.06 and a fifty-two week high of $49.87. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 30.52 and a beta of 1.01. The company’s 50 day moving average price is $43.73 and its two-hundred day moving average price is $44.69.

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

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd will be paid a $0.13 dividend. This is a positive change from New York Times’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Monday, April 1st. New York Times’s dividend payout ratio is currently 37.41%.

Insider Activity

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 shares were sold at an average price of $44.11, for a total value of $597,381.73. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $44.11, for a total value of $597,381.73. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were 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 in the company, valued at approximately $1,684,126.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,557 shares of company stock valued at $1,029,968. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

About New York Times

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.