46,800 Shares in The New York Times Company $NYT Purchased by Louisiana State Employees Retirement System

Key Points

• Louisiana State Employees Retirement System opened a new position in New York Times, buying 46,800 shares worth about $3.9 million in the first quarter.
• New York Times reported strong quarterly results, with EPS of $0.61 beating estimates and revenue of $712.24 million coming in above forecasts, while revenue rose 12% year over year.
• The company also declared a quarterly dividend of $0.23 per share, and analysts currently have a Moderate Buy consensus with an average price target of $83.22.

Louisiana State Employees Retirement System acquired a new position in shares of The New York Times Company (NYSE:NYT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 46,800 shares of the company's stock, valued at approximately $3,919,000.

Other hedge funds have also made changes to their positions in the company. Navalign LLC acquired a new stake in shares of New York Times in the fourth quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its stake in New York Times by 74.2% in the 4th quarter. Cornerstone Planning Group LLC now owns 446 shares of the company's stock valued at $32,000 after purchasing an additional 190 shares during the last quarter. International Assets Investment Management LLC acquired a new position in New York Times in the 4th quarter valued at $32,000. SOA Wealth Advisors LLC. purchased a new position in New York Times in the 4th quarter valued at $34,000. Finally, Larson Financial Group LLC lifted its holdings in New York Times by 59.6% in the 3rd quarter. Larson Financial Group LLC now owns 656 shares of the company's stock valued at $38,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Key Headlines Impacting New York Times

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Zacks highlighted NYT as a defensive stock pick as inflation stays elevated and rate-hike expectations rise, which could make the company more attractive to investors seeking steadier names. Article Title
• Positive Sentiment: Another Zacks note said NYT may be due for a technical reversal after losing 8.6% over four weeks, with the stock viewed as oversold and analysts still raising earnings estimates. Article Title
• Neutral Sentiment: The New York Times amended its lawsuit against OpenAI and Microsoft, alleging Microsoft encouraged OpenAI to train AI systems on copyrighted Times articles. The case could support long-term monetization of content, but it also adds legal uncertainty. Article Title
• Neutral Sentiment: Most other headlines were newsroom content rather than direct business updates, so they are unlikely to materially affect NYT stock on their own.

New York Times Trading Up 3.2%

Shares of NYT stock opened at $70.76 on Friday. The New York Times Company has a twelve month low of $51.03 and a twelve month high of $87.10. The company's 50-day moving average price is $76.03 and its 200-day moving average price is $75.43. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 1.47 and a beta of 0.95.

New York Times (NYSE:NYT - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.12. The company had revenue of $712.24 million for the quarter, compared to the consensus estimate of $699.93 million. New York Times had a net margin of 13.18% and a return on equity of 22.02%. New York Times's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. As a group, equities research analysts predict that The New York Times Company will post 2.93 EPS for the current year.

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Wednesday, July 8th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, July 8th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.3%. New York Times's dividend payout ratio (DPR) is currently 39.48%.

Analysts Set New Price Targets

NYT has been the subject of a number of research reports. Guggenheim upped their target price on shares of New York Times from $63.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Evercore reissued an "outperform" rating and issued a $92.00 price target on shares of New York Times in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on shares of New York Times from $74.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. UBS Group set a $80.00 price objective on shares of New York Times in a research note on Wednesday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of New York Times in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $83.22.

Insider Activity

In related news, EVP William Bardeen sold 4,121 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $77.85, for a total value of $320,819.85. Following the transaction, the executive vice president directly owned 14,560 shares in the company, valued at approximately $1,133,496. This represents a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David S. Perpich sold 9,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $77.06, for a total value of $693,540.00. Following the completion of the transaction, the director owned 28,469 shares of the company's stock, valued at $2,193,821.14. The trade was a 24.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 17,121 shares of company stock valued at $1,310,920. 1.90% of the stock is currently owned by company insiders.

New York Times Company Profile

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

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