D Orazio & Associates Inc. Purchases New Position in The New York Times Company $NYT

D Orazio & Associates Inc. purchased a new stake in shares of The New York Times Company (NYSE:NYT) in the second quarter, Holdings Channel.com reports. The firm purchased 5,546 shares of the company’s stock, valued at approximately $310,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of New York Times by 1.2% during the first quarter. Vanguard Group Inc. now owns 15,987,404 shares of the company’s stock valued at $792,975,000 after buying an additional 187,056 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of New York Times by 7.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,392,977 shares of the company’s stock valued at $515,492,000 after purchasing an additional 698,433 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of New York Times by 1.2% during the second quarter. Geode Capital Management LLC now owns 3,826,905 shares of the company’s stock valued at $214,257,000 after purchasing an additional 46,249 shares in the last quarter. Baillie Gifford & Co. grew its position in New York Times by 19.0% in the 1st quarter. Baillie Gifford & Co. now owns 3,018,477 shares of the company’s stock worth $149,716,000 after purchasing an additional 481,682 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in New York Times by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,707,676 shares of the company’s stock worth $134,292,000 after purchasing an additional 211,062 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Performance

Shares of NYT opened at $64.49 on Friday. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $64.75. The business has a 50-day moving average of $57.66 and a 200 day moving average of $56.39. The firm has a market cap of $10.50 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 1.41 and a beta of 1.14.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The firm had revenue of $700.82 million during the quarter, compared to analyst estimates of $692.01 million. During the same quarter last year, the business earned $0.45 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend 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 presently 35.12%.

Insider Activity at New York Times

In other New York Times news, EVP Jacqueline M. Welch sold 5,500 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the transaction, the executive vice president owned 14,470 shares in the company, valued at $868,778.80. This trade represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of New York Times from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Zacks Research lowered New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Weiss Ratings restated a “buy (b)” rating on shares of New York Times in a research note on Wednesday, October 8th. Evercore ISI reaffirmed an “outperform” rating on shares of New York Times in a research report on Thursday, November 6th. Finally, Citigroup boosted their price target on shares of New York Times from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, New York Times presently has an average rating of “Moderate Buy” and an average target price of $63.57.

New York Times Company 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.