49,975 Shares in The New York Times Company $NYT Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems acquired 49,975 shares of The New York Times Company (NYSE: NYT), valued at approximately $2,798,000, during the second quarter.
• Company insiders, including EVP Jacqueline M. Welch and William Bardeen, sold shares recently, indicating a decrease in their ownership of the stock.
• The New York Times recently reported a quarterly earnings per share (EPS) of $0.58, exceeding analyst expectations, and announced a dividend of $0.18 per share, representing a yield of 1.3%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of The New York Times Company (NYSE:NYT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 49,975 shares of the company's stock, valued at approximately $2,798,000.

A number of other large investors have also recently made changes to their positions in NYT. Acadian Asset Management LLC increased its stake in shares of New York Times by 383.0% during the first quarter. Acadian Asset Management LLC now owns 1,765,338 shares of the company's stock worth $87,538,000 after buying an additional 1,399,865 shares during the period. AQR Capital Management LLC increased its stake in shares of New York Times by 101.6% during the first quarter. AQR Capital Management LLC now owns 2,351,100 shares of the company's stock worth $115,627,000 after buying an additional 1,184,729 shares during the period. Allianz Asset Management GmbH increased its stake in shares of New York Times by 210.7% during the first quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company's stock worth $79,832,000 after buying an additional 1,091,430 shares during the period. Burgundy Asset Management Ltd. increased its stake in shares of New York Times by 65.2% during the first quarter. Burgundy Asset Management Ltd. now owns 2,325,224 shares of the company's stock worth $115,331,000 after buying an additional 917,766 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of New York Times during the first quarter worth approximately $37,500,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the firm'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 transaction of $330,220.00. Following the transaction, the executive vice president directly owned 14,470 shares in the company, valued at approximately $868,778.80. This trade represents a 27.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William Bardeen sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total transaction of $290,200.00. Following the transaction, the executive vice president owned 11,243 shares in the company, valued at approximately $652,543.72. This trade represents a 30.78% decrease in their ownership of the stock. 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%

Shares of New York Times stock opened at $56.47 on Wednesday. The firm has a market capitalization of $9.19 billion, a P/E ratio of 29.11, a P/E/G ratio of 1.41 and a beta of 1.16. The firm's 50 day moving average is $57.90 and its two-hundred day moving average is $55.16. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $62.24.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. The business had revenue of $685.90 million for the quarter, compared to analyst estimates of $670.22 million. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. As a group, research analysts expect 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 will be paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. New York Times's dividend payout ratio (DPR) is 37.11%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Zacks Research lowered shares of New York Times from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Evercore ISI increased their price target on shares of New York Times from $60.00 to $67.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Barclays set a $52.00 price target on shares of New York Times and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of New York Times in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $60.33.

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.

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