Asset Management One Co. Ltd. Acquires Shares of 5,049 The New York Times Company (NYSE:NYT)

Asset Management One Co. Ltd. purchased a new position in The New York Times Company (NYSE:NYT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,049 shares of the company's stock, valued at approximately $250,000.

Other hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock valued at $25,000 after acquiring an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in New York Times during the fourth quarter valued at $36,000. American National Bank & Trust purchased a new stake in New York Times during the first quarter valued at $45,000. Smartleaf Asset Management LLC increased its position in New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock valued at $60,000 after acquiring an additional 247 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after acquiring an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insider Transactions at New York Times

In related news, CAO R Anthony Benten sold 1,990 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $56.75, for a total transaction of $112,932.50. Following the completion of the transaction, the chief accounting officer directly owned 39,685 shares of the company's stock, valued at approximately $2,252,123.75. This represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Bardeen sold 2,500 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.83, for a total value of $142,075.00. Following the transaction, the executive vice president directly owned 16,727 shares of the company's stock, valued at approximately $950,595.41. The trade was a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,490 shares of company stock valued at $479,728 over the last 90 days. Company insiders own 1.90% of the company's stock.

New York Times Stock Up 1.0%

NYT traded up $0.58 during midday trading on Friday, reaching $57.12. The company had a trading volume of 739,674 shares, compared to its average volume of 1,402,635. The business has a 50-day moving average of $54.76 and a two-hundred day moving average of $51.83. The company has a market cap of $9.31 billion, a P/E ratio of 31.04, a P/E/G ratio of 1.95 and a beta of 1.11. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. The business had revenue of $635.91 million during the quarter, compared to analysts' expectations of $634.99 million. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 earnings per share. On average, equities research analysts predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Wednesday, July 9th. New York Times's dividend payout ratio (DPR) is 39.13%.

Analyst Upgrades and Downgrades

NYT has been the subject of a number of research reports. Guggenheim upped their price objective on New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, June 2nd. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Finally, Citigroup reiterated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, New York Times has an average rating of "Moderate Buy" and an average price target of $56.40.

About New York Times

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.