New York State Common Retirement Fund Sells 61,200 Shares of The New York Times Company (NYSE:NYT)

New York State Common Retirement Fund trimmed its holdings in The New York Times Company (NYSE:NYT) by 13.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 390,108 shares of the company’s stock after selling 61,200 shares during the quarter. New York State Common Retirement Fund owned about 0.24% of New York Times worth $21,717,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NYT. Commonwealth Equity Services LLC raised its holdings in shares of New York Times by 3.2% in the first quarter. Commonwealth Equity Services LLC now owns 17,222 shares of the company’s stock valued at $744,000 after buying an additional 527 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in New York Times by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 143,204 shares of the company’s stock worth $6,189,000 after purchasing an additional 1,854 shares during the last quarter. Duality Advisers LP bought a new stake in New York Times during the 1st quarter worth about $983,000. Quantbot Technologies LP bought a new stake in New York Times during the 1st quarter worth about $2,293,000. Finally, Swiss National Bank raised its holdings in New York Times by 0.3% during the 1st quarter. Swiss National Bank now owns 307,000 shares of the company’s stock worth $13,269,000 after purchasing an additional 800 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

New York Times Trading Down 7.7 %

New York Times stock opened at $52.45 on Tuesday. The business has a 50-day moving average of $54.78 and a 200-day moving average of $52.07. The New York Times Company has a 1 year low of $41.02 and a 1 year high of $57.08. The firm has a market capitalization of $8.61 billion, a P/E ratio of 32.38 and a beta of 1.02.

New York Times (NYSE:NYT) last issued its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $624.82 million. During the same period in the previous year, the firm earned $0.38 EPS. New York Times’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts anticipate that The New York Times Company will post 1.83 EPS for the current fiscal year.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.99%. New York Times’s dividend payout ratio is presently 32.10%.

Insider Buying and Selling at New York Times

In other New York Times news, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction that occurred 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 owns 10,315 shares in the company, valued at approximately $562,786.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 sale, the chief executive officer now owns 101,772 shares in the company, valued at approximately $5,487,546.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NYT. Deutsche Bank Aktiengesellschaft began coverage on New York Times in a report on Wednesday, October 9th. They set a “buy” rating and a $65.00 price objective for the company. Barclays boosted their price objective on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Finally, 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.71.

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.