Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,354 Shares of The New York Times Company (NYSE:NYT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of The New York Times Company (NYSE:NYT) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,343 shares of the company’s stock after acquiring an additional 3,354 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in New York Times were worth $1,633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NYT. SG Americas Securities LLC raised its stake in shares of New York Times by 42.8% in the third quarter. SG Americas Securities LLC now owns 64,138 shares of the company’s stock worth $2,642,000 after purchasing an additional 19,222 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of New York Times during the third quarter valued at about $613,000. Oak Thistle LLC purchased a new position in New York Times during the third quarter worth about $816,000. Robeco Institutional Asset Management B.V. grew its position in New York Times by 127.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 41,450 shares of the company’s stock worth $1,708,000 after purchasing an additional 23,250 shares in the last quarter. Finally, Xponance Inc. increased its stake in New York Times by 13.0% in the 3rd quarter. Xponance Inc. now owns 22,468 shares of the company’s stock valued at $926,000 after buying an additional 2,586 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Trading Up 0.2 %

Shares of NYSE NYT opened at $43.30 on Thursday. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 31.15 and a beta of 1.01. The stock has a fifty day simple moving average of $43.30 and a two-hundred day simple moving average of $44.74. The New York Times Company has a 1-year low of $35.06 and a 1-year high of $49.87.

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

New York Times Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were issued a $0.13 dividend. The ex-dividend date was Monday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 1.20%. New York Times’s dividend payout ratio (DPR) is 37.41%.

Insider Activity at New York Times

In other New York Times news, EVP Diane Brayton sold 7,000 shares of the 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 sale, the executive vice president now owns 39,312 shares in the company, valued at $1,684,126.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Diane Brayton sold 7,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the sale, the executive vice president now directly owns 39,312 shares in the company, valued at $1,684,126.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David S. Perpich sold 3,014 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total transaction of $132,706.42. Following the completion of the sale, the director now directly owns 20,813 shares in the company, valued at $916,396.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,557 shares of company stock worth $1,029,968. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

NYT has been the topic of a number of research analyst reports. Citigroup began coverage on New York Times in a research note on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.67.

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.