Oregon Public Employees Retirement Fund Reduces Stock Position in The New York Times Company (NYSE:NYT)

Oregon Public Employees Retirement Fund cut its stake in The New York Times Company (NYSE:NYT) by 15.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,992 shares of the company’s stock after selling 6,400 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in New York Times were worth $1,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NYT. GAMMA Investing LLC grew its holdings in New York Times by 129.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after buying an additional 792 shares in the last quarter. Signaturefd LLC boosted its position in shares of New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after acquiring an additional 432 shares during the period. Blue Trust Inc. grew its stake in New York Times by 401.8% during the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after acquiring an additional 1,800 shares in the last quarter. TFO Wealth Partners LLC increased its holdings in 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 acquiring an additional 2,521 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in New York Times by 15.9% in the 4th quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock worth $161,000 after purchasing an additional 451 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NYT has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of 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. 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

New York Times Price Performance

Shares of NYSE:NYT opened at $52.99 on Friday. The New York Times Company has a one year low of $39.73 and a one year high of $56.49. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 35.33 and a beta of 1.06. The company’s fifty day moving average price is $53.63 and its 200-day moving average price is $48.64.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The business had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $624.82 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that The New York Times Company will post 1.9 EPS for the current year.

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 paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Tuesday, July 9th. New York Times’s dividend payout ratio is currently 34.67%.

Insider Buying and Selling at New York Times

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 sale, the chief financial officer now directly owns 10,315 shares in the company, valued at approximately $562,786.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the transaction, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

About New York Times

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.