Zurcher Kantonalbank Zurich Cantonalbank Acquires 659 Shares of The New York Times Company (NYSE:NYT)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in The New York Times Company (NYSE:NYT) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,098 shares of the company’s stock after purchasing an additional 659 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in New York Times were worth $2,634,000 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. LPL Financial LLC lifted its holdings in shares of New York Times by 11.7% during the 4th quarter. LPL Financial LLC now owns 8,164 shares of the company’s stock valued at $425,000 after buying an additional 858 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in New York Times by 511.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock worth $25,000 after buying an additional 394 shares during the period. Norges Bank purchased a new position in New York Times in the 4th quarter worth approximately $13,823,000. Pictet Asset Management Holding SA lifted its stake in New York Times by 27.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 51,623 shares of the company’s stock worth $2,687,000 after purchasing an additional 11,262 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in New York Times by 62.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,634 shares of the company’s stock valued at $1,282,000 after buying an additional 9,463 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Performance

NYT stock opened at $52.26 on Friday. The firm has a 50-day simple moving average of $54.95 and a two-hundred day simple moving average of $52.04. The New York Times Company has a one year low of $44.83 and a one year high of $58.16. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 1.42 and a beta of 1.09.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The business had revenue of $635.91 million during the quarter, compared to analysts’ expectations of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.31 earnings per share. As a group, equities analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were paid a $0.18 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. New York Times’s dividend payout ratio is presently 39.13%.

Wall Street Analyst Weigh In

NYT has been the topic of several recent research reports. Citigroup restated a “buy” rating on shares of New York Times in a research report on Thursday, June 12th. Wall Street Zen upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Finally, Guggenheim raised their price target on New York Times from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, June 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

Insider Transactions at New York Times

In other news, EVP William Bardeen sold 2,500 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $56.83, for a total transaction of $142,075.00. Following the sale, the executive vice president directly owned 16,727 shares of the company’s stock, valued at $950,595.41. This represents a 13.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David S. Perpich sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total value of $224,720.00. Following the completion of the sale, the director owned 27,569 shares of the company’s stock, valued at $1,548,826.42. This trade represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,490 shares of company stock worth $479,728 over the last quarter. 1.90% of the stock is currently owned by insiders.

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.