Jupiter Asset Management Ltd. Purchases 632,229 Shares of The New York Times Company $NYT

Jupiter Asset Management Ltd. boosted its stake in The New York Times Company (NYSE:NYT) by 157.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,033,271 shares of the company’s stock after purchasing an additional 632,229 shares during the period. Jupiter Asset Management Ltd.’s holdings in New York Times were worth $57,843,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NYT. Acadian Asset Management LLC grew its position in shares of New York Times by 383.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,765,338 shares of the company’s stock worth $87,538,000 after buying an additional 1,399,865 shares during the period. AQR Capital Management LLC increased its stake in shares of New York Times by 101.6% in the first quarter. AQR Capital Management LLC now owns 2,351,100 shares of the company’s stock worth $115,627,000 after purchasing an additional 1,184,729 shares in the last quarter. Allianz Asset Management GmbH raised its stake in New York Times by 210.7% during the 1st quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company’s stock valued at $79,832,000 after purchasing an additional 1,091,430 shares during the period. Burgundy Asset Management Ltd. boosted its stake in New York Times by 65.2% during the first quarter. Burgundy Asset Management Ltd. now owns 2,325,224 shares of the company’s stock valued at $115,331,000 after buying an additional 917,766 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of New York Times during the first quarter valued at approximately $37,500,000. 95.37% of the stock is owned by institutional investors.

New York Times Stock Up 0.7%

NYT stock opened at $63.02 on Wednesday. The stock’s 50 day moving average is $57.47 and its two-hundred day moving average is $56.29. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $63.30. The company has a market capitalization of $10.26 billion, a PE ratio of 32.49, a P/E/G ratio of 1.41 and a beta of 1.14.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, November 5th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The company had revenue of $700.82 million during the quarter, compared to analyst estimates of $692.01 million. During the same period in the prior year, the company earned $0.45 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th were paid a $0.18 dividend. The ex-dividend date was Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. New York Times’s payout ratio is 35.12%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group set a $62.00 price target on New York Times in a report on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of New York Times in a research note on Wednesday, October 8th. Barclays increased their target price on shares of New York Times from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. increased their target price on shares of New York Times from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Morgan Stanley increased their price target on shares of New York Times from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.17.

Insider Buying and Selling

In related news, EVP Jacqueline M. Welch sold 5,500 shares of New York Times stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $60.04, for a total value of $330,220.00. Following the transaction, the executive vice president owned 14,470 shares in the company, valued at $868,778.80. This trade represents a 27.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by company insiders.

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.