Louisiana State Employees Retirement System Cuts Stock Position in The New York Times Company (NYSE:NYT)

Louisiana State Employees Retirement System lowered its position in The New York Times Company (NYSE:NYT) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,300 shares of the company’s stock after selling 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in New York Times were worth $2,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NYT. UMB Bank n.a. grew its position in shares of New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after buying an additional 360 shares during the last quarter. GAMMA Investing LLC grew its position in shares of New York Times by 129.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after buying an additional 792 shares during the last quarter. Signaturefd LLC grew its position in shares of New York Times by 34.2% in the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after buying an additional 432 shares during the last quarter. Blue Trust Inc. boosted its stake in New York Times by 401.8% in the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Paladin Wealth LLC acquired a new stake in New York Times in the 3rd quarter worth approximately $172,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

NYT has been the subject of a number of recent analyst reports. Barclays lifted their target price 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 target price on shares of New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of New York Times in a research note on Wednesday, October 9th. They issued a “buy” rating and a $65.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, New York Times has an average rating of “Moderate Buy” and a consensus price target of $52.71.

New York Times Trading Up 0.1 %

Shares of NYSE NYT opened at $55.46 on Tuesday. The New York Times Company has a 12 month low of $39.79 and a 12 month high of $56.49. The company has a 50 day simple moving average of $54.72 and a two-hundred day simple moving average of $51.52. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 34.23 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 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The business had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. During the same period in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts forecast that The New York Times Company will post 1.83 EPS for the current year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio is currently 32.10%.

Insider Activity at New York Times

In related 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 value of $109,120.00. Following the completion of the transaction, the chief financial officer now directly owns 10,315 shares in the company, valued at $562,786.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’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 transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at $5,487,546.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO William Bardeen sold 2,000 shares of the business’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 sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.