State of New Jersey Common Pension Fund D Sells 27,327 Shares of The New York Times Company (NYSE:NYT)

State of New Jersey Common Pension Fund D lowered its holdings in The New York Times Company (NYSE:NYT) by 32.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,078 shares of the company’s stock after selling 27,327 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in New York Times were worth $2,923,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted 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 valued at $161,000 after buying an additional 451 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of New York Times by 5.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 43,819 shares of the company’s stock valued at $2,147,000 after purchasing an additional 2,369 shares in the last quarter. Norges Bank bought a new stake in shares of New York Times in the 4th quarter worth about $89,754,000. Coldstream Capital Management Inc. bought a new stake in shares of New York Times in the 4th quarter worth about $217,000. Finally, Wells Fargo & Company MN increased its position in shares of New York Times by 7.1% during the 4th quarter. Wells Fargo & Company MN now owns 173,109 shares of the company’s stock worth $8,481,000 after purchasing an additional 11,516 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Transactions at New York Times

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other 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 completion of the transaction, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the sale, the chief financial officer now directly owns 10,315 shares in the company, 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.

New York Times Price Performance

Shares of New York Times stock opened at $55.06 on Thursday. The firm has a 50 day simple moving average of $53.88 and a 200 day simple moving average of $49.24. The New York Times Company has a fifty-two week low of $39.73 and a fifty-two week high of $56.49. The firm has a market cap of $9.05 billion, a P/E ratio of 36.71 and a beta of 1.03.

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

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Tuesday, July 9th. New York Times’s dividend payout ratio (DPR) is currently 34.67%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays upped 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 note on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, New York Times currently has an average rating of “Moderate Buy” and an average target price of $50.67.

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.