VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Stake in The New York Times Company $NYT

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in The New York Times Company (NYSE:NYT) during the second quarter, according to its most recent filing with the SEC. The firm acquired 49,975 shares of the company’s stock, valued at approximately $2,798,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd grew its position in New York Times by 7.9% in the 1st quarter. Covestor Ltd now owns 2,849 shares of the company’s stock valued at $141,000 after buying an additional 208 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in New York Times by 0.5% in the second quarter. Public Employees Retirement System of Ohio now owns 54,815 shares of the company’s stock valued at $3,069,000 after acquiring an additional 271 shares during the period. Valueworks LLC lifted its holdings in New York Times by 0.3% in the first quarter. Valueworks LLC now owns 88,939 shares of the company’s stock valued at $4,411,000 after acquiring an additional 278 shares during the period. Blue Trust Inc. lifted its holdings in New York Times by 20.0% in the second quarter. Blue Trust Inc. now owns 1,769 shares of the company’s stock valued at $99,000 after acquiring an additional 295 shares during the period. Finally, Confluence Wealth Services Inc. lifted its holdings in New York Times by 1.2% in the second quarter. Confluence Wealth Services Inc. now owns 25,892 shares of the company’s stock valued at $1,449,000 after acquiring an additional 296 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NYT has been the subject of a number of recent analyst reports. Zacks Research downgraded New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Evercore ISI raised their target price on New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Barclays set a $52.00 target price on New York Times and gave the company an “equal weight” rating in a report on Thursday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a report on Wednesday, October 8th. Finally, Guggenheim lifted their price target on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

Insider Transactions at New York Times

In related news, EVP Jacqueline M. Welch sold 5,500 shares of New York Times stock in a transaction dated 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 owned 14,470 shares in the company, valued at approximately $868,778.80. This trade represents a 27.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William Bardeen sold 5,000 shares of New York Times stock in a transaction dated 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 owned 11,243 shares of the company’s stock, valued at approximately $652,543.72. This represents a 30.78% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

New York Times Stock Up 0.7%

NYSE:NYT opened at $56.47 on Wednesday. The company has a market capitalization of $9.19 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24. The stock has a fifty day simple moving average of $57.90 and a 200-day simple moving average of $55.16.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $685.90 million during the quarter, compared to the consensus estimate 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 revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, equities analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, October 8th. New York Times’s dividend payout ratio (DPR) is currently 37.11%.

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.