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

Intech Investment Management LLC grew its holdings in shares of The New York Times Company (NYSE:NYT) by 604.6% during the second quarter, HoldingsChannel reports. The firm owned 69,835 shares of the company’s stock after purchasing an additional 59,924 shares during the quarter. Intech Investment Management LLC’s holdings in New York Times were worth $3,576,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. GAMMA Investing LLC grew its holdings in New York Times by 129.4% in the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after purchasing an additional 792 shares during the period. Signaturefd LLC boosted its holdings 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 valued at $87,000 after purchasing an additional 432 shares during the last quarter. Blue Trust Inc. grew its stake in shares of New York Times by 401.8% during the 2nd 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 during the period. TFO Wealth Partners LLC increased its holdings in shares of New York Times by 84,033.3% during the 4th quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after buying an additional 2,521 shares during the last quarter. Finally, Bailard Inc. purchased a new position in shares of New York Times in the 2nd quarter worth $205,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

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

New York Times Price Performance

NYSE:NYT opened at $54.49 on Monday. The New York Times Company has a 12 month low of $39.73 and a 12 month high of $56.49. The business’s 50-day moving average is $53.95 and its two-hundred day moving average is $49.46. The firm 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 released its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $624.82 million. New York Times had a return on equity of 17.45% and a net margin of 10.81%. New York Times’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts anticipate that The New York Times Company will post 1.9 EPS for the current year.

New York Times Announces Dividend

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

Insider Activity

In other New York Times 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 transaction, the chief executive officer now owns 101,772 shares in the company, valued at approximately $5,487,546.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now directly owns 101,772 shares in the company, valued at approximately $5,487,546.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 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.