Victory Capital Management Inc. Buys 95,472 Shares of The New York Times Company (NYSE:NYT)

Victory Capital Management Inc. raised its stake in shares of The New York Times Company (NYSE:NYT) by 75.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 222,491 shares of the company’s stock after purchasing an additional 95,472 shares during the period. Victory Capital Management Inc. owned 0.14% of New York Times worth $11,394,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NYT. GAMMA Investing LLC boosted its stake in New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after buying an additional 792 shares during the last quarter. Signaturefd LLC grew its holdings in shares of New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after purchasing an additional 432 shares in the last quarter. Blue Trust Inc. increased its position in New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after purchasing an additional 1,800 shares during the last quarter. TFO Wealth Partners LLC increased its position in New York Times by 84,033.3% in 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 last quarter. Finally, Quadrant Capital Group LLC raised its stake in New York Times by 15.9% during the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock valued at $161,000 after purchasing an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insiders Place Their Bets

In other news, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the sale, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the transaction, the chief executive officer now owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on NYT. Barclays lifted their price objective on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.67.

New York Times Trading Up 1.5 %

New York Times stock opened at $53.54 on Friday. The New York Times Company has a 12-month low of $39.73 and a 12-month high of $56.49. The firm has a 50-day moving average price of $53.70 and a 200-day moving average price of $49.01. The firm has a market capitalization of $8.79 billion, a PE ratio of 35.69 and a beta of 1.03.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. As a group, sell-side analysts predict that The New York Times Company will post 1.9 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Tuesday, July 9th. New York Times’s dividend payout ratio (DPR) is presently 34.67%.

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.