Fuller & Thaler Asset Management Inc. Invests $3.95 Million in The New York Times Company $NYT

Fuller & Thaler Asset Management Inc. acquired a new position in shares of The New York Times Company (NYSE:NYT) in the 1st quarter, Holdings Channel reports. The fund acquired 79,659 shares of the company’s stock, valued at approximately $3,951,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of New York Times by 2.8% during the first quarter. Northern Trust Corp now owns 1,480,232 shares of the company’s stock worth $73,420,000 after buying an additional 40,611 shares during the period. Burgundy Asset Management Ltd. boosted its position in New York Times by 65.2% during the first quarter. Burgundy Asset Management Ltd. now owns 2,325,224 shares of the company’s stock valued at $115,331,000 after purchasing an additional 917,766 shares during the last quarter. Algert Global LLC boosted its position in New York Times by 20.3% during the first quarter. Algert Global LLC now owns 243,023 shares of the company’s stock valued at $12,054,000 after purchasing an additional 40,928 shares during the last quarter. Corient IA LLC acquired a new position in New York Times during the first quarter valued at approximately $347,000. Finally, Raymond James Financial Inc. boosted its position in New York Times by 331.6% during the first quarter. Raymond James Financial Inc. now owns 128,078 shares of the company’s stock valued at $6,353,000 after purchasing an additional 98,405 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Stock Up 0.3%

NYSE NYT opened at $59.8660 on Thursday. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $62.24. The business’s fifty day moving average is $55.62 and its 200 day moving average is $52.52.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. The firm had revenue of $685.90 million during the quarter, compared to analyst estimates of $670.22 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. On average, research analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Wednesday, July 9th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, July 9th. New York Times’s payout ratio is presently 37.11%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NYT shares. Evercore ISI increased their price target on New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Citigroup reissued a “buy” rating on shares of New York Times in a research report on Thursday, June 12th. Guggenheim increased their price target on New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Barclays set a $52.00 price target on New York Times and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Finally, Morgan Stanley increased their price target on New York Times from $54.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and an average price target of $60.33.

Insider Activity at New York Times

In other New York Times news, CAO R Anthony Benten sold 1,990 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $56.75, for a total transaction of $112,932.50. Following the completion of the sale, the chief accounting officer directly owned 39,685 shares of the company’s stock, valued at approximately $2,252,123.75. The trade was a 4.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Bardeen sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total value of $290,200.00. Following the sale, the executive vice president directly owned 11,243 shares of the company’s stock, valued at $652,543.72. This represents a 30.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,490 shares of company stock valued at $769,928 in the last three months. Corporate insiders own 1.90% of the company’s stock.

New York Times 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.