Cookson Peirce & Co. Inc. Makes New $602,000 Investment in The New York Times Company $NYT

Key Points

• Cookson Peirce & Co. Inc. acquired a new stake in The New York Times Company, purchasing 12,142 shares valued at approximately $602,000 in the first quarter.
• Institutional investors collectively own 95.37% of the company's stock, indicating a strong interest from large financial entities.
• The New York Times reported a quarterly EPS of $0.58, exceeding expectations and reflecting a 9.7% year-over-year revenue growth.

Cookson Peirce & Co. Inc. bought a new position in shares of The New York Times Company (NYSE:NYT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,142 shares of the company's stock, valued at approximately $602,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. American National Bank & Trust bought a new position in New York Times during the first quarter valued at about $45,000. Bessemer Group Inc. boosted its position in shares of New York Times by 12.6% during the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after purchasing an additional 212 shares in the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in shares of New York Times during the 1st quarter valued at about $99,000. Putney Financial Group LLC acquired a new position in shares of New York Times in the 4th quarter worth approximately $102,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of New York Times in the 1st quarter worth approximately $115,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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 value of $112,932.50. Following the transaction, the chief accounting officer owned 39,685 shares in the company, valued at approximately $2,252,123.75. This represents a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a 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 shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the transaction, the executive vice president directly owned 11,243 shares in the company, valued at approximately $652,543.72. The trade was a 30.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,490 shares of company stock valued at $769,928 in the last three months. Corporate insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

NYT has been the topic of several research reports. Guggenheim upped their price target on New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Citigroup restated a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Evercore ISI boosted their target price on New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Barclays set a $52.00 price target on New York Times and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley lifted their price target on 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. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.33.

New York Times Stock Up 0.3%

Shares of NYSE:NYT traded up $0.1760 during trading on Wednesday, reaching $59.8660. 1,557,499 shares of the company traded hands, compared to its average volume of 2,348,177. The firm has a fifty day simple moving average of $55.62 and a 200 day simple moving average of $52.52. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $62.24. The firm has a market cap of $9.75 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $685.90 million during the quarter, compared to analyst estimates of $670.22 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.New York Times's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. As a group, research analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. New York Times's dividend payout ratio (DPR) is 37.11%.

New York Times 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.