The New York Times Company $NYT Shares Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lifted its stake in shares of The New York Times Company (NYSE:NYT) by 157.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,033,271 shares of the company’s stock after purchasing an additional 632,229 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.63% of New York Times worth $57,843,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NYT. Hantz Financial Services Inc. boosted its holdings in shares of New York Times by 4,591.7% in the second quarter. Hantz Financial Services Inc. now owns 563 shares of the company’s stock valued at $32,000 after acquiring an additional 551 shares in the last quarter. True Wealth Design LLC lifted its position in shares of New York Times by 519.6% in the 2nd quarter. True Wealth Design LLC now owns 570 shares of the company’s stock valued at $32,000 after acquiring an additional 478 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of New York Times by 690.7% in the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock worth $42,000 after buying an additional 739 shares during the period. Allworth Financial LP increased its holdings in shares of New York Times by 405.4% in the 2nd quarter. Allworth Financial LP now owns 1,021 shares of the company’s stock valued at $57,000 after purchasing an additional 819 shares during the period. Finally, WPG Advisers LLC purchased a new position in New York Times during the first quarter valued at approximately $60,000. Institutional investors own 95.37% of the company’s stock.

New York Times Trading Up 0.7%

Shares of NYT opened at $63.02 on Wednesday. The firm has a fifty day simple moving average of $57.47 and a 200 day simple moving average of $56.29. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.41 and a beta of 1.14. The New York Times Company has a 12 month low of $44.83 and a 12 month high of $63.30.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. The company had revenue of $700.82 million during the quarter, compared to the consensus estimate of $692.01 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. As a group, research analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. New York Times’s payout ratio is currently 35.12%.

Insider Activity at New York Times

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $60.04, for a total value of $330,220.00. Following the transaction, the executive vice president owned 14,470 shares in the company, valued at approximately $868,778.80. The trade was a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NYT shares. JPMorgan Chase & Co. increased their price target on shares of New York Times from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Zacks Research downgraded New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Evercore ISI restated an “outperform” rating on shares of New York Times in a research note on Thursday, November 6th. Guggenheim boosted their price target on shares of New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Finally, Morgan Stanley increased their price objective on shares of New York Times from $59.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and an average target price of $62.17.

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.