Strs Ohio Takes $1.53 Million Position in The New York Times Company $NYT

Strs Ohio purchased a new stake in The New York Times Company (NYSE:NYT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 30,881 shares of the company’s stock, valued at approximately $1,532,000.

Several other hedge funds also recently made changes to their positions in NYT. Cetera Investment Advisers grew its position in shares of New York Times by 32.9% in the fourth quarter. Cetera Investment Advisers now owns 10,929 shares of the company’s stock valued at $569,000 after purchasing an additional 2,704 shares in the last quarter. Deutsche Bank AG grew its position in shares of New York Times by 8.4% in the fourth quarter. Deutsche Bank AG now owns 32,449 shares of the company’s stock valued at $1,689,000 after purchasing an additional 2,510 shares in the last quarter. Focus Partners Wealth grew its position in New York Times by 19.3% during the fourth quarter. Focus Partners Wealth now owns 7,650 shares of the company’s stock worth $398,000 after buying an additional 1,240 shares in the last quarter. Lazard Asset Management LLC grew its position in New York Times by 31.0% during the fourth quarter. Lazard Asset Management LLC now owns 16,462 shares of the company’s stock worth $856,000 after buying an additional 3,894 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in New York Times by 13.9% during the fourth quarter. Nuveen Asset Management LLC now owns 749,321 shares of the company’s stock worth $39,002,000 after buying an additional 91,538 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NYT has been the subject of several recent analyst reports. Guggenheim boosted their target price on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Barclays set a $52.00 target price on New York Times and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Morgan Stanley boosted their target price on New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Zacks Research cut New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Evercore ISI boosted their target price on New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.33.

New York Times Trading Down 1.5%

NYT opened at $58.33 on Wednesday. The stock has a 50-day moving average price of $56.98 and a 200-day moving average price of $53.79. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $62.24. The stock has a market capitalization of $9.50 billion, a P/E ratio of 30.07, a PEG ratio of 1.49 and a beta of 1.16.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $670.22 million. During the same period in the prior year, the business earned $0.45 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, July 9th. New York Times’s payout ratio is 37.11%.

Insider Transactions at New York Times

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the sale, the executive vice president owned 14,470 shares of the company’s stock, valued at approximately $868,778.80. The trade was a 27.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William Bardeen sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total value of $290,200.00. Following the completion of the sale, the executive vice president directly owned 11,243 shares of the company’s stock, valued at approximately $652,543.72. This trade represents a 30.78% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

New York Times 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.