The New York Times Company (NYSE:NYT) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of The New York Times Company (NYSE:NYT) by 75.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,491 shares of the company’s stock after purchasing an additional 95,472 shares during the quarter. Victory Capital Management Inc.’s holdings in New York Times were worth $11,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of 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 buying an additional 792 shares in the last quarter. Signaturefd LLC increased its stake in shares of New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after purchasing an additional 432 shares in the last quarter. Blue Trust Inc. lifted its position in shares of New York Times by 401.8% in 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 lifted its holdings in New York Times by 84,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock valued at $124,000 after purchasing an additional 2,521 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in New York Times by 15.9% during the 4th quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock valued at $161,000 after acquiring an additional 451 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Price Performance

Shares of New York Times stock opened at $53.54 on Friday. The business has a 50 day moving average price of $53.70 and a 200 day moving average price of $49.01. The company has a market capitalization of $8.79 billion, a P/E ratio of 35.69 and a beta of 1.03. The New York Times Company has a 1 year low of $39.73 and a 1 year high of $56.49.

New York Times (NYSE:NYT) last released its 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 during the quarter, compared to analysts’ expectations of $624.82 million. New York Times had a net margin of 10.81% and a return on equity of 17.45%. 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 earned $0.38 EPS. As a group, research analysts expect that The New York Times Company will post 1.9 EPS for the current fiscal year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.52 annualized dividend and a yield of 0.97%. New York Times’s dividend payout ratio is currently 34.67%.

Wall Street Analyst Weigh In

NYT has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective 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. Barclays increased their price objective on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.67.

Insider Transactions at New York Times

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

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.