Teacher Retirement System of Texas Sells 19,735 Shares of The New York Times Company $NYT

Teacher Retirement System of Texas cut its stake in shares of The New York Times Company (NYSE:NYT) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,405 shares of the company’s stock after selling 19,735 shares during the period. Teacher Retirement System of Texas owned 0.09% of New York Times worth $8,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NYT. Y Intercept Hong Kong Ltd increased its position in shares of New York Times by 398.9% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 66,977 shares of the company’s stock valued at $3,749,000 after purchasing an additional 53,552 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in New York Times by 7.8% during the second quarter. Envestnet Asset Management Inc. now owns 111,135 shares of the company’s stock worth $6,221,000 after buying an additional 8,076 shares during the period. Hixon Zuercher LLC increased its position in New York Times by 106.5% during the second quarter. Hixon Zuercher LLC now owns 28,330 shares of the company’s stock valued at $1,586,000 after acquiring an additional 14,609 shares during the last quarter. Brighton Jones LLC raised its stake in shares of New York Times by 169.3% in the second quarter. Brighton Jones LLC now owns 18,813 shares of the company’s stock valued at $1,053,000 after acquiring an additional 11,827 shares during the period. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in shares of New York Times by 161.4% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 12,515 shares of the company’s stock worth $701,000 after acquiring an additional 7,727 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Performance

New York Times stock opened at $56.10 on Thursday. The company has a market capitalization of $9.13 billion, a PE ratio of 28.92, a P/E/G ratio of 1.45 and a beta of 1.16. The company has a 50 day moving average price of $57.54 and a 200-day moving average price of $55.63. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $62.24.

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

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, October 8th. New York Times’s payout ratio is presently 37.11%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NYT. Zacks Research cut shares of New York Times from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a research note on Wednesday, October 8th. Guggenheim increased their price target on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Evercore ISI boosted their price objective on New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Barclays set a $52.00 price objective on New York Times and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.33.

Insider Transactions at New York Times

In other news, EVP William Bardeen sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total value of $290,200.00. Following the completion of the sale, the executive vice president owned 11,243 shares in the company, valued at approximately $652,543.72. The trade was a 30.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jacqueline M. Welch sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the completion of the sale, the executive vice president directly owned 14,470 shares of the company’s stock, valued at $868,778.80. The trade was a 27.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by corporate insiders.

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.