Vanguard Group Inc. Acquires 80,075 Shares of The New York Times Company (NYSE:NYT)

Vanguard Group Inc. increased its holdings in shares of The New York Times Company (NYSE:NYT) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,809,453 shares of the company’s stock after acquiring an additional 80,075 shares during the quarter. Vanguard Group Inc. owned approximately 9.63% of New York Times worth $774,505,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. raised its stake in shares of New York Times by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company’s stock worth $146,844,000 after purchasing an additional 406,958 shares during the period. Norges Bank purchased a new position in New York Times in the fourth quarter valued at about $89,754,000. Charles Schwab Investment Management Inc. grew its position in shares of New York Times by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,800,927 shares of the company’s stock valued at $88,227,000 after acquiring an additional 31,213 shares during the period. Northern Trust Corp increased its stake in shares of New York Times by 3.2% during the 3rd quarter. Northern Trust Corp now owns 1,478,661 shares of the company’s stock worth $60,921,000 after purchasing an additional 45,677 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of New York Times by 232.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,038,033 shares of the company’s stock worth $42,767,000 after purchasing an additional 726,231 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 12,548 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $47.72, for a total value of $598,790.56. Following the transaction, the chief executive officer now directly owns 120,072 shares in the company, valued at approximately $5,729,835.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Levien Meredith A. Kopit sold 12,548 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.72, for a total value of $598,790.56. Following the transaction, the chief executive officer now owns 120,072 shares of the company’s stock, valued at approximately $5,729,835.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO R Anthony Benten sold 5,171 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $48.98, for a total transaction of $253,275.58. Following the sale, the chief accounting officer now owns 38,576 shares in the company, valued at approximately $1,889,452.48. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

New York Times Trading Up 1.6 %

Shares of New York Times stock opened at $50.92 on Friday. The company’s 50-day moving average price is $47.55 and its 200-day moving average price is $46.23. The New York Times Company has a 12-month low of $37.36 and a 12-month high of $51.98. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 33.95 and a beta of 1.05.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.11. The business had revenue of $594.00 million for the quarter, compared to analysts’ expectations of $591.97 million. New York Times had a net margin of 10.19% and a return on equity of 17.33%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 EPS. On average, sell-side analysts predict that The New York Times Company will post 1.77 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Citigroup started coverage on New York Times in a research note on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective on the stock. Evercore ISI increased their target price on shares of New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, Argus upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, New York Times presently has an average rating of “Moderate Buy” and an average price target of $46.71.

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.