Ontario Teachers Pension Plan Board Invests $2.10 Million in The New York Times Company $NYT

Ontario Teachers Pension Plan Board bought a new position in shares of The New York Times Company (NYSE:NYT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 37,421 shares of the company’s stock, valued at approximately $2,095,000.

Other large investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its position in New York Times by 4,591.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 563 shares of the company’s stock worth $32,000 after buying an additional 551 shares during the last quarter. True Wealth Design LLC increased its stake in shares of New York Times by 519.6% in the second quarter. True Wealth Design LLC now owns 570 shares of the company’s stock worth $32,000 after acquiring an additional 478 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of New York Times by 690.7% during the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock worth $42,000 after purchasing an additional 739 shares during the last quarter. Allworth Financial LP lifted its position in New York Times by 405.4% during the second 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 acquired a new position in New York Times during the first quarter valued at $60,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Trading Down 0.8%

Shares of NYT opened at $63.94 on Monday. The firm has a market cap of $10.41 billion, a P/E ratio of 32.96, 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 $64.75. The stock’s 50 day moving average is $57.76 and its two-hundred day moving average is $56.54.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm had revenue of $700.82 million for the quarter, compared to analyst estimates of $692.01 million. During the same quarter last year, the firm posted $0.45 EPS. The business’s revenue was up 9.5% on a year-over-year basis. Equities research analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Announces Dividend

The business also recently disclosed 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. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, October 8th. New York Times’s dividend payout ratio (DPR) is presently 35.12%.

Insider Activity

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were 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 owned 14,470 shares of the company’s stock, valued at $868,778.80. The trade was a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NYT has been the subject of a number of recent research reports. Citigroup lifted their price objective on New York Times from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday. Barclays lifted their price target on New York Times from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of New York Times in a research report on Wednesday, October 8th. Morgan Stanley raised 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 research note on Thursday, November 6th. Finally, UBS Group set a $62.00 target price on shares of New York Times in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.