Oak Thistle LLC Makes New Investment in The New York Times Company (NYSE:NYT)

Oak Thistle LLC acquired a new stake in shares of The New York Times Company (NYSE:NYT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,455 shares of the company’s stock, valued at approximately $452,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new stake in New York Times during the 4th quarter valued at $27,000. GAMMA Investing LLC bought a new position in shares of New York Times during the fourth quarter valued at about $31,000. TFO Wealth Partners LLC boosted its holdings in shares of New York Times by 84,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after purchasing an additional 2,521 shares during the period. Quadrant Capital Group LLC grew its stake in shares of New York Times by 15.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock worth $161,000 after purchasing an additional 451 shares during the last quarter. Finally, Boston Family Office LLC bought a new position in New York Times during the 4th quarter valued at approximately $206,000. Institutional investors own 95.37% of the company’s stock.

New York Times Trading Up 0.4 %

Shares of NYT stock opened at $51.44 on Tuesday. The New York Times Company has a 12-month low of $39.28 and a 12-month high of $51.98. The stock has a market capitalization of $8.45 billion, a P/E ratio of 34.29 and a beta of 1.06. The firm’s 50 day moving average is $48.57 and its 200 day moving average is $46.39.

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

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, July 9th. New York Times’s payout ratio is 34.67%.

Insider Transactions at New York Times

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

Wall Street Analysts Forecast Growth

NYT has been the topic of a number of recent analyst reports. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Evercore ISI boosted their price objective on shares of New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Argus raised 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 report on Monday, March 4th. Finally, Citigroup began coverage on shares of New York Times in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.71.

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.