First Citizens Bank & Trust Co. Acquires Shares of 4,094 The New York Times Company (NYSE:NYT)

First Citizens Bank & Trust Co. bought a new position in shares of The New York Times Company (NYSE:NYT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,094 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NYT. Farallon Capital Management LLC increased its holdings in New York Times by 18.1% during the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock worth $483,548,000 after purchasing an additional 1,711,268 shares during the last quarter. Darsana Capital Partners LP increased its stake in shares of New York Times by 25.0% in the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after buying an additional 1,250,000 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in New York Times in the first quarter valued at $42,434,000. Renaissance Technologies LLC boosted its stake in New York Times by 19.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock valued at $149,131,000 after acquiring an additional 482,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in New York Times by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after acquiring an additional 438,680 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NYT shares. JPMorgan Chase & Co. upped their target price on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft started coverage on New York Times in a research note on Wednesday, October 9th. They set a “buy” rating and a $65.00 price objective on the stock. Finally, Barclays boosted their price target 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, New York Times has an average rating of “Moderate Buy” and an average target price of $52.71.

New York Times Trading Down 0.6 %

Shares of New York Times stock opened at $55.07 on Tuesday. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 36.71 and a beta of 1.03. The New York Times Company has a twelve month low of $39.73 and a twelve month high of $56.49. The business’s 50 day simple moving average is $54.70 and its 200-day simple moving average is $51.19.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $624.82 million. During the same period last year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts predict that The New York Times Company will post 1.83 earnings per share for the current year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Wednesday, October 9th. New York Times’s payout ratio is 34.67%.

Insiders Place Their Bets

In other news, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the sale, the chief financial officer now owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $109,120.00. Following the sale, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

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.