The New York Times Company (NYSE:NYT) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in The New York Times Company (NYSE:NYT) by 604.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,835 shares of the company’s stock after acquiring an additional 59,924 shares during the period. Intech Investment Management LLC’s holdings in New York Times were worth $3,576,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NYT. GAMMA Investing LLC boosted its position in shares of New York Times by 129.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after purchasing an additional 792 shares during the period. Signaturefd LLC grew its stake 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 buying an additional 432 shares in the last quarter. Blue Trust Inc. grew its stake in shares of New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after buying an additional 1,800 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in shares of New York Times by 84,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock valued at $124,000 after buying an additional 2,521 shares during the period. Finally, Bailard Inc. acquired a new position in New York Times during the 2nd quarter worth about $205,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at New York Times

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

Analyst Ratings Changes

NYT has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Barclays boosted their target price on 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. Two equities 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, New York Times currently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

New York Times Stock Performance

NYT stock opened at $54.49 on Monday. The New York Times Company has a one year low of $39.73 and a one year high of $56.49. The company has a fifty day moving average of $53.95 and a 200-day moving average of $49.46. The stock has a market capitalization of $8.95 billion, a PE ratio of 36.33 and a beta of 1.03.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The company had revenue of $625.00 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. Equities analysts forecast that The New York Times Company will post 1.9 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Tuesday, July 9th. New York Times’s dividend payout ratio is currently 34.67%.

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.