The New York Times Company $NYT Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in The New York Times Company (NYSE:NYT) by 88.6% in the 2nd quarter, Holdings Channel reports. The fund owned 90,229 shares of the company’s stock after acquiring an additional 42,376 shares during the period. Illinois Municipal Retirement Fund’s holdings in New York Times were worth $5,051,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in New York Times by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 15,987,404 shares of the company’s stock worth $792,975,000 after purchasing an additional 187,056 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in New York Times by 7.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,392,977 shares of the company’s stock valued at $515,492,000 after acquiring an additional 698,433 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of New York Times by 19.0% during the 1st quarter. Baillie Gifford & Co. now owns 3,018,477 shares of the company’s stock worth $149,716,000 after purchasing an additional 481,682 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of New York Times by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,707,676 shares of the company’s stock valued at $134,292,000 after acquiring an additional 211,062 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in New York Times by 37.4% during the first quarter. Alliancebernstein L.P. now owns 2,622,794 shares of the company’s stock worth $130,091,000 after acquiring an additional 714,317 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Up 0.4%

NYT opened at $63.25 on Thursday. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $63.84. The firm has a market cap of $10.30 billion, a PE ratio of 32.60, a P/E/G ratio of 1.41 and a beta of 1.14. The business has a fifty day simple moving average of $57.56 and a 200-day simple moving average of $56.34.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The business had revenue of $700.82 million for the quarter, compared to analyst estimates of $692.01 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts anticipate that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th were given a dividend of $0.18 per share. The ex-dividend date of this dividend 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 presently 35.12%.

Insider Transactions at New York Times

In other New York Times 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 transaction of $330,220.00. Following the completion of the sale, the executive vice president owned 14,470 shares of the company’s stock, valued at $868,778.80. This trade represents a 27.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NYT. Guggenheim boosted their price target on New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of New York Times in a research note on Wednesday, October 8th. Barclays lifted their target price on New York Times from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Zacks Research cut shares of New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Finally, Evercore ISI reissued an “outperform” rating on shares of New York Times in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.17.

New York Times 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.