Cookson Peirce & Co. Inc. Acquires 6,694 Shares of The New York Times Company $NYT

Key Points

• Cookson Peirce & Co. Inc. increased its holdings in The New York Times Company by 55.1%, acquiring an additional 6,694 shares in the second quarter, raising its total to 18,836 shares valued at approximately $1,054,000.
• Several hedge funds have also increased their stakes, with 95.37% of the stock owned by institutional investors and hedge funds, indicating strong interest in the company.
• The New York Times announced a quarterly dividend of $0.18, scheduled for payment on October 23rd, representing an annualized yield of 1.3%.

Cookson Peirce & Co. Inc. increased its holdings in shares of The New York Times Company (NYSE:NYT - Free Report) by 55.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,836 shares of the company's stock after buying an additional 6,694 shares during the period. Cookson Peirce & Co. Inc.'s holdings in New York Times were worth $1,054,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Covestor Ltd raised its holdings in New York Times by 7.9% in the first quarter. Covestor Ltd now owns 2,849 shares of the company's stock worth $141,000 after purchasing an additional 208 shares during the period. Public Employees Retirement System of Ohio raised 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 worth $3,069,000 after purchasing an additional 271 shares during the period. Valueworks LLC raised 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 worth $4,411,000 after purchasing an additional 278 shares during the period. Blue Trust Inc. raised 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 worth $99,000 after purchasing an additional 295 shares during the period. Finally, Confluence Wealth Services Inc. raised 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 worth $1,449,000 after purchasing an additional 296 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at New York Times

In other news, EVP Jacqueline M. Welch sold 5,500 shares of New York Times stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the transaction, the executive vice president owned 14,470 shares of the company's stock, valued at $868,778.80. This trade represents a 27.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William Bardeen sold 5,000 shares of New York Times stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the completion of the transaction, the executive vice president directly owned 11,243 shares of the company's stock, valued at approximately $652,543.72. This trade 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.

Analyst Ratings Changes

Several research firms have weighed in on NYT. Evercore ISI increased their target price on shares of New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Guggenheim increased their target price on shares of New York Times from $55.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley increased their price objective on shares of New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Zacks Research downgraded shares of New York Times from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Barclays set a $52.00 price objective on shares of New York Times and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, New York Times presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.33.

New York Times Stock Up 1.0%

Shares of NYT stock opened at $57.03 on Thursday. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.42 and a beta of 1.16. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $62.24. The firm has a fifty day moving average of $57.83 and a 200-day moving average of $55.17.

New York Times (NYSE:NYT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 11.92% and a return on equity of 19.55%. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. On average, equities analysts expect that The New York Times Company will post 2.08 EPS for the current year.

New York Times Announces Dividend

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

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.

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