California Public Employees Retirement System increased its stake in shares of New York Times Co (NYSE:NYT) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 384,765 shares of the company’s stock after buying an additional 14,416 shares during the quarter. California Public Employees Retirement System owned about 0.24% of New York Times worth $7,118,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NYT. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of New York Times by 37.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,622 shares of the company’s stock worth $160,000 after buying an additional 2,333 shares during the last quarter. HL Financial Services LLC purchased a new position in shares of New York Times during the fourth quarter worth about $185,000. Fox Run Management L.L.C. purchased a new position in shares of New York Times during the fourth quarter worth about $186,000. Macquarie Group Ltd. purchased a new position in shares of New York Times during the third quarter worth about $192,000. Finally, Eagle Ridge Investment Management purchased a new position in shares of New York Times during the fourth quarter worth about $205,000. 72.15% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the company. ValuEngine raised New York Times from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research lowered New York Times from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Finally, Barclays set a $20.00 price target on New York Times and gave the stock a “hold” rating in a report on Sunday, February 11th.
Shares of New York Times Co (NYSE NYT) traded down $0.53 on Wednesday, reaching $24.57. The company’s stock had a trading volume of 1,416,364 shares, compared to its average volume of 2,534,027. New York Times Co has a 12 month low of $14.08 and a 12 month high of $25.70. The stock has a market cap of $4,153.46, a price-to-earnings ratio of 31.11, a PEG ratio of 2.23 and a beta of 1.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.80.
New York Times (NYSE:NYT) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.09. New York Times had a return on equity of 14.84% and a net margin of 0.26%. The company had revenue of $484.00 million for the quarter, compared to analyst estimates of $467.30 million. During the same quarter in the previous year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. equities analysts predict that New York Times Co will post 0.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Wednesday, April 4th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, April 3rd. New York Times’s dividend payout ratio is presently 800.00%.
In other New York Times news, SVP R Anthony Benten sold 7,875 shares of New York Times stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $24.73, for a total value of $194,748.75. Following the sale, the senior vice president now owns 47,781 shares of the company’s stock, valued at approximately $1,181,624.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Denham sold 3,166 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.12, for a total value of $79,529.92. Following the sale, the director now directly owns 39,842 shares in the company, valued at approximately $1,000,831.04. The disclosure for this sale can be found here. Insiders sold a total of 406,164 shares of company stock worth $10,001,239 in the last ninety days. 5.20% of the stock is owned by corporate insiders.
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About New York Times
The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.
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