Nippon Life Global Investors Americas Inc. Has $12.79 Million Stock Position in The New York Times Company (NYSE:NYT)

Nippon Life Global Investors Americas Inc. cut its position in The New York Times Company (NYSE:NYT) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 249,790 shares of the company’s stock after selling 3,720 shares during the period. Nippon Life Global Investors Americas Inc. owned 0.15% of New York Times worth $12,792,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NYT. Norges Bank acquired a new position in shares of New York Times in the 4th quarter worth approximately $89,754,000. Farallon Capital Management LLC raised its position in New York Times by 18.1% in the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after purchasing an additional 1,711,268 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in New York Times in the first quarter worth $42,434,000. Renaissance Technologies LLC grew its holdings in shares of New York Times by 19.8% during the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after purchasing an additional 482,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of New York Times by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock valued at $124,164,000 after buying an additional 438,680 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

New York Times Stock Down 0.1 %

Shares of NYT stock opened at $54.49 on Monday. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 36.33 and a beta of 1.03. The New York Times Company has a 12 month low of $39.73 and a 12 month high of $56.49. The stock has a 50-day moving average price of $53.95 and a 200 day moving average price of $49.46.

New York Times (NYSE:NYT) last issued its quarterly 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. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The company had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. During the same quarter in the previous year, the company earned $0.38 EPS. New York Times’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that The New York Times Company will post 1.9 earnings per share for the current fiscal year.

New York Times Dividend Announcement

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 0.95%. The ex-dividend date of this dividend was Tuesday, July 9th. New York Times’s dividend payout ratio (DPR) is currently 34.67%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NYT shares. JPMorgan Chase & Co. upped their price target on shares of 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 upped their target price 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.67.

Insider Activity

In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times 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 completion of the sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other New York Times news, CFO William Bardeen sold 2,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 10,315 shares in the company, valued at $562,786.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $986,736.00. Following the completion of the transaction, 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. 2.00% of the stock is currently owned by company insiders.

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.