Swiss National Bank Reduces Holdings in The New York Times Company (NYSE:NYT)

Swiss National Bank decreased its holdings in The New York Times Company (NYSE:NYT) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 303,300 shares of the company’s stock after selling 2,600 shares during the quarter. Swiss National Bank’s holdings in New York Times were worth $16,885,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in New York Times by 92.9% during the third quarter. Thrivent Financial for Lutherans now owns 132,190 shares of the company’s stock valued at $7,359,000 after purchasing an additional 63,677 shares in the last quarter. Comgest Global Investors S.A.S. lifted its holdings in New York Times by 3.2% during the third quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company’s stock valued at $25,721,000 after purchasing an additional 14,407 shares in the last quarter. KBC Group NV lifted its holdings in New York Times by 0.4% during the third quarter. KBC Group NV now owns 75,917 shares of the company’s stock valued at $4,226,000 after purchasing an additional 308 shares in the last quarter. MQS Management LLC lifted its holdings in New York Times by 23.9% during the third quarter. MQS Management LLC now owns 5,764 shares of the company’s stock valued at $321,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Empower Advisory Group LLC purchased a new position in New York Times during the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NYT shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Barclays lifted their price target on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

New York Times Stock Performance

NYT stock opened at $54.17 on Friday. The New York Times Company has a one year low of $41.55 and a one year high of $57.08. The company’s fifty day moving average price is $54.83 and its 200-day moving average price is $52.90. The company has a market capitalization of $8.88 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 1.65 and a beta of 1.02.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Monday, November 4th. 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 net margin of 11.04% and a return on equity of 17.75%. The company had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. New York Times’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts predict that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio is presently 30.77%.

About New York Times

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.