Teachers Retirement System of The State of Kentucky lessened its stake in shares of New York Times Co (NYSE:NYT) by 15.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,552 shares of the company’s stock after selling 3,300 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in New York Times were worth $429,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of NYT. FMR LLC grew its holdings in New York Times by 1,576.2% during the 2nd quarter. FMR LLC now owns 4,715,899 shares of the company’s stock valued at $122,142,000 after buying an additional 4,434,550 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in New York Times by 187.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,638,999 shares of the company’s stock valued at $120,150,000 after buying an additional 3,027,171 shares in the last quarter. BlackRock Inc. grew its holdings in New York Times by 10.6% during the 2nd quarter. BlackRock Inc. now owns 15,043,001 shares of the company’s stock valued at $389,615,000 after buying an additional 1,438,997 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in New York Times during the 2nd quarter valued at about $15,170,000. Finally, Carillon Tower Advisers Inc. purchased a new position in New York Times during the 2nd quarter valued at about $14,118,000. 91.43% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Mark Thompson sold 40,000 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $25.90, for a total transaction of $1,036,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carso S.A. De C.V. Inversora sold 90,000 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $22.86, for a total value of $2,057,400.00. Following the transaction, the insider now directly owns 8,247,175 shares of the company’s stock, valued at approximately $188,530,420.50. The disclosure for this sale can be found here. Insiders have sold 133,492 shares of company stock valued at $3,190,617 in the last three months. 5.20% of the stock is owned by insiders.
Shares of NYSE NYT opened at $25.11 on Friday. New York Times Co has a 12 month low of $17.50 and a 12 month high of $28.72. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.24. The stock has a market cap of $4.27 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 3.81 and a beta of 1.13.
New York Times (NYSE:NYT) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. New York Times had a return on equity of 15.14% and a net margin of 0.79%. The company had revenue of $417.30 million during the quarter, compared to analyst estimates of $409.80 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. New York Times’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that New York Times Co will post 0.79 EPS for the current year.
A number of research firms have weighed in on NYT. Zacks Investment Research lowered New York Times from a “hold” rating to a “strong sell” rating in a report on Friday, August 10th. ValuEngine raised New York Times from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. lifted their target price on New York Times to $32.00 and gave the company an “overweight” rating in a report on Thursday, October 11th. Finally, Barclays lowered New York Times from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $20.00 to $18.00 in a report on Tuesday, November 6th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.33.
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New York Times Profile
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company provides The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.
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