New York State Teachers Retirement System lessened its holdings in shares of The New York Times Company (NYSE:NYT – Free Report) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,099 shares of the company’s stock after selling 15,123 shares during the period. New York State Teachers Retirement System’s holdings in New York Times were worth $8,506,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of NYT. International Assets Investment Management LLC grew its stake in shares of New York Times by 1,322.3% during the 4th quarter. International Assets Investment Management LLC now owns 22,046 shares of the company’s stock worth $1,080,000 after purchasing an additional 20,496 shares during the period. Cerity Partners LLC purchased a new stake in New York Times during the fourth quarter worth about $251,000. GAMMA Investing LLC acquired a new position in New York Times during the fourth quarter worth about $31,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in New York Times in the fourth quarter valued at about $470,000. Finally, Van ECK Associates Corp increased its holdings in New York Times by 45.2% in the fourth quarter. Van ECK Associates Corp now owns 40,869 shares of the company’s stock valued at $2,002,000 after buying an additional 12,717 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.
New York Times Price Performance
Shares of New York Times stock opened at $55.04 on Friday. The New York Times Company has a 1 year low of $39.73 and a 1 year high of $56.49. The business has a 50 day moving average price of $52.81 and a 200 day moving average price of $47.96. The company has a market capitalization of $9.04 billion, a P/E ratio of 36.69 and a beta of 1.06.
New York Times Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a $0.13 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.94%. New York Times’s dividend payout ratio (DPR) is 34.67%.
Insiders Place Their Bets
In other news, CFO William Bardeen sold 2,000 shares of the business’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 owns 10,315 shares of the company’s stock, valued at $562,786.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at $5,487,546.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction dated 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 sale, the chief financial officer now owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
NYT has been the topic of a number of research reports. Evercore ISI upped their price target on New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. boosted their target price on New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Barclays upped their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, New York Times currently has an average rating of “Moderate Buy” and an average target price of $50.67.
Get Our Latest Stock Report on NYT
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.
Further Reading
- Five stocks we like better than New York Times
- Quiet Period Expirations Explained
- CAVA Stock Rallies as Earnings Confirm It’s a Top Growth Play
- What is the Dow Jones Industrial Average (DJIA)?
- MarketBeat Week in Review – 8/19 – 8/23
- Top Biotech Stocks: Exploring Innovation Opportunities
- 3 High Short-Interest Stocks Poised for a Rate Cut Squeeze
Want to see what other hedge funds are holding NYT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The New York Times Company (NYSE:NYT – Free Report).
Receive News & Ratings for New York Times Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Times and related companies with MarketBeat.com's FREE daily email newsletter.