The New York Times Company $NYT Position Raised by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in The New York Times Company by 8.5%, acquiring an additional 211,062 shares and bringing its total ownership to approximately 2.7 million shares valued at $134.3 million.
• The New York Times reported a 9.7% increase in revenue compared to the previous year, with earnings per share of $0.58 surpassing analyst expectations of $0.50.
• Analysts currently rate The New York Times as a Moderate Buy, with an average price target of $60.33, following multiple upgrades from firms such as Evercore ISI and Guggenheim.

Dimensional Fund Advisors LP boosted its stake in The New York Times Company (NYSE:NYT - Free Report) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,707,676 shares of the company's stock after acquiring an additional 211,062 shares during the quarter. Dimensional Fund Advisors LP owned about 1.66% of New York Times worth $134,292,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NYT. Allianz Asset Management GmbH boosted its stake in shares of New York Times by 210.7% in the first quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company's stock valued at $79,832,000 after purchasing an additional 1,091,430 shares during the period. Squarepoint Ops LLC lifted its holdings in New York Times by 210.5% in the 4th quarter. Squarepoint Ops LLC now owns 1,382,695 shares of the company's stock worth $71,969,000 after buying an additional 937,354 shares in the last quarter. Millennium Management LLC boosted its position in New York Times by 133.6% in the 4th quarter. Millennium Management LLC now owns 1,559,837 shares of the company's stock valued at $81,190,000 after buying an additional 892,155 shares during the last quarter. Nuveen LLC purchased a new position in New York Times in the 1st quarter valued at about $37,500,000. Finally, Darsana Capital Partners LP grew its stake in shares of New York Times by 15.0% during the fourth quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company's stock valued at $299,288,000 after acquiring an additional 750,000 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Guggenheim boosted their price target on New York Times from $55.00 to $56.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Evercore ISI lifted their price objective on New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Citigroup reiterated a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Morgan Stanley raised their price target 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. Finally, Barclays set a $52.00 price target on shares of New York Times and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, New York Times presently has an average rating of "Moderate Buy" and a consensus target price of $60.33.

Insider Activity

In related news, EVP William Bardeen sold 5,000 shares of the business's 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 sale, the executive vice president owned 11,243 shares of the company's stock, valued at $652,543.72. This represents a 30.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO R Anthony Benten sold 1,990 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $56.75, for a total transaction of $112,932.50. Following the sale, the chief accounting officer owned 39,685 shares in the company, valued at approximately $2,252,123.75. This trade represents a 4.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,490 shares of company stock valued at $769,928. Company insiders own 1.90% of the company's stock.

New York Times Stock Down 0.3%

Shares of NYT traded down $0.1680 during mid-day trading on Monday, hitting $59.6220. The stock had a trading volume of 1,353,372 shares, compared to its average volume of 1,790,169. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $62.24. The company has a market cap of $9.71 billion, a PE ratio of 30.73, a PEG ratio of 1.51 and a beta of 1.09. The company's fifty day simple moving average is $55.79 and its two-hundred day simple moving average is $52.62.

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 firm had revenue of $685.90 million for the quarter, compared to analysts' expectations of $670.22 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the business posted $0.45 earnings per share. Equities analysts expect that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

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

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.