The New York Times Company (NYSE:NYT) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama raised its position in The New York Times Company (NYSE:NYT) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 406,127 shares of the company’s stock after buying an additional 713 shares during the period. Retirement Systems of Alabama owned approximately 0.25% of New York Times worth $19,896,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich purchased a new position in New York Times in the fourth quarter valued at about $470,000. Harvest Fund Management Co. Ltd boosted its stake in shares of New York Times by 70.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 6,005 shares of the company’s stock valued at $294,000 after buying an additional 2,492 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of New York Times during the fourth quarter worth approximately $31,000. Wedge Capital Management L L P NC increased its stake in shares of New York Times by 8.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 29,701 shares of the company’s stock worth $1,455,000 after buying an additional 2,281 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in New York Times by 11.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,343 shares of the company’s stock valued at $1,633,000 after acquiring an additional 3,354 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Stock Up 1.1 %

NYT opened at $43.66 on Tuesday. The company’s 50-day moving average price is $43.26 and its 200 day moving average price is $44.78. The New York Times Company has a fifty-two week low of $35.06 and a fifty-two week high of $49.87. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 31.41 and a beta of 1.01.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.10. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The business had revenue of $676.20 million for the quarter, compared to analysts’ expectations of $680.02 million. During the same period in the prior year, the firm earned $0.65 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Research analysts anticipate that The New York Times Company will post 1.64 earnings per share for the current year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.13 per share. This is an increase from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date was Monday, April 1st. This represents a $0.52 annualized dividend and a dividend yield of 1.19%. New York Times’s payout ratio is 37.41%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NYT shares. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Citigroup started coverage on New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.67.

Insider Transactions at New York Times

In other New York Times news, EVP Diane Brayton sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the sale, the executive vice president now owns 39,312 shares in the company, valued at $1,684,126.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Diane Brayton sold 7,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total value of $299,880.00. Following the completion of the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David S. Perpich sold 3,014 shares of New York Times stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total transaction of $132,706.42. Following the sale, the director now owns 20,813 shares in the company, valued at $916,396.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,557 shares of company stock worth $1,029,968. Insiders own 2.00% of the company’s stock.

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.