76,966 Shares in The New York Times Company $NYT Purchased by Abacus FCF Advisors LLC

Key Points

• Abacus FCF Advisors initiated a position of 76,966 New York Times shares worth approximately $5.4 million in the second quarter. Institutional investors collectively own 95.37% of NYT stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $82.33, despite some recent target cuts and a Zacks downgrade to “Hold.”
• New York Times exceeded quarterly expectations, reporting $0.69 EPS and $762.46 million in revenue, while revenue grew 11.2% year over year. The company also pays a quarterly dividend of $0.23, representing a 1.4% yield.

Abacus FCF Advisors LLC purchased a new position in shares of The New York Times Company (NYSE:NYT - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 76,966 shares of the company's stock, valued at approximately $5,386,000.

Several other hedge funds also recently made changes to their positions in the business. Navalign LLC bought a new stake in New York Times during the 4th quarter worth about $25,000. Basecamp Wealth Advisors LLC increased its position in shares of New York Times by 1,191.7% in the first quarter. Basecamp Wealth Advisors LLC now owns 310 shares of the company's stock valued at $26,000 after acquiring an additional 286 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in New York Times by 74.2% during the fourth quarter. Cornerstone Planning Group LLC now owns 446 shares of the company's stock worth $32,000 after acquiring an additional 190 shares in the last quarter. International Assets Investment Management LLC bought a new stake in New York Times during the fourth quarter worth about $32,000. Finally, Larson Financial Group LLC boosted its position in New York Times by 59.6% during the third quarter. Larson Financial Group LLC now owns 656 shares of the company's stock valued at $38,000 after purchasing an additional 245 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. UBS Group set a $75.00 target price on shares of New York Times in a research note on Tuesday. Guggenheim boosted their price objective on shares of New York Times from $63.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Morgan Stanley set a $90.00 target price on shares of New York Times in a report on Thursday, May 7th. Zacks Research downgraded New York Times from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Finally, Barclays cut their price objective on New York Times from $66.00 to $63.00 and set an "equal weight" rating for the company in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $82.33.

New York Times Stock Performance

NYT stock opened at $65.88 on Thursday. The New York Times Company has a 52 week low of $54.10 and a 52 week high of $87.10. The company has a market capitalization of $10.62 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.57 and a beta of 0.95. The company's 50-day simple moving average is $71.62 and its 200 day simple moving average is $75.75.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.02. The firm had revenue of $762.46 million during the quarter, compared to the consensus estimate of $752.01 million. New York Times had a net margin of 13.19% and a return on equity of 22.64%. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 EPS. On average, analysts forecast that The New York Times Company will post 2.9 EPS for the current year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Wednesday, July 8th were paid a $0.23 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. New York Times's dividend payout ratio (DPR) is presently 38.33%.

More New York Times News

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

• Positive Sentiment: A report on Greg Abel’s investments highlights New York Times as a stock he bought alongside Alphabet and other companies. The coverage may support investor confidence in NYT’s long-term value, although it does not represent a new company announcement or change in fundamentals. 3 Stocks That Warren Buffett's Successor, Greg Abel, Bought
• Neutral Sentiment: NYT’s own coverage remained active across politics, sports, technology and international news, including OpenAI’s launch of “ChatGPT for Teens.” High-profile coverage can support engagement and subscriptions, but the articles provide no new subscriber, advertising or financial guidance data. OpenAI Introduces ChatGPT for Teens
• Neutral Sentiment: ABC’s lawsuit seeking to block a threat to its television licenses highlights regulatory and legal risks facing major media companies. The dispute does not directly involve The New York Times, but it underscores the broader uncertainty affecting the media sector. ABC Sues FCC to Block Threat to Its TV Licenses
• Negative Sentiment: No article provided a new NYT earnings update, subscription disclosure, acquisition announcement or guidance increase. Consequently, the apparent move is more likely driven by outside investor attention and market sentiment than by a material change in the company’s operating outlook.

Insider Activity at New York Times

In related news, EVP Jacqueline M. Welch sold 4,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total transaction of $296,560.00. Following the completion of the sale, the executive vice president directly owned 23,873 shares in the company, valued at $1,769,944.22. This represents a 14.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.90% of the company's stock.

New York Times 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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