Geode Capital Management LLC Purchases 50,389 Shares of The New York Times Company $NYT

Key Points

• Geode Capital Management increased its New York Times stake by 1.3% in the fourth quarter, adding 50,389 shares and bringing its total to 3,922,565 shares worth about $272.3 million.
• The New York Times recently beat earnings expectations, reporting $0.61 EPS versus $0.49 expected, on revenue of $712.2 million, up 12% year over year.
• Wall Street sentiment is mixed but constructive, with a Moderate Buy consensus and an average price target of $81.67; however, the stock is also facing a law-firm investigation that could add headline risk.

Geode Capital Management LLC lifted its position in The New York Times Company (NYSE:NYT - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,922,565 shares of the company's stock after buying an additional 50,389 shares during the period. Geode Capital Management LLC owned about 2.42% of New York Times worth $272,347,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Navalign LLC bought a new position in New York Times during the 4th quarter worth about $25,000. Cornerstone Planning Group LLC increased its holdings in New York Times by 74.2% during the 4th quarter. Cornerstone Planning Group LLC now owns 446 shares of the company's stock worth $32,000 after purchasing an additional 190 shares in the last quarter. International Assets Investment Management LLC bought a new position in New York Times during the 4th quarter worth about $32,000. SOA Wealth Advisors LLC. bought a new position in New York Times during the 4th quarter worth about $34,000. Finally, Larson Financial Group LLC increased its holdings in New York Times by 59.6% during the 3rd quarter. Larson Financial Group LLC now owns 656 shares of the company's stock worth $38,000 after purchasing an additional 245 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

New York Times News Summary

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

• Positive Sentiment: The company’s publisher publicly criticized AI firms for “brazen theft” of news content, reinforcing NYT’s push to protect its journalism business and potentially strengthen its negotiating position around licensing and copyright. New York Times publisher slams AI companies' 'brazen theft' from news outlets
• Neutral Sentiment: Several new pieces from The New York Times and The Athletic highlight continued content production across politics, sports, entertainment, and culture, underscoring the breadth of the company’s subscription and advertising portfolio, though they do not appear to be a major direct stock catalyst. Article: Ben Brown levels up, Lucas Erceg is droppable and more fantasy baseball takeaways
• Neutral Sentiment: Additional reporting on topics like U.S. politics and European soccer unrest adds to audience engagement, but these articles are unlikely to materially affect NYT’s financial outlook on their own. Article: They Voted for Trump. Here’s How They Feel About High Gas Prices.
• Negative Sentiment: Investors were also alerted to a law-firm investigation into The New York Times Company, which can create legal uncertainty and headline risk for shares. Article: NYT Investors Have the Opportunity to Join Investigation of The New York Times Company with the Schall Law Firm

New York Times Stock Performance

New York Times stock opened at $76.35 on Tuesday. The New York Times Company has a 52 week low of $51.03 and a 52 week high of $87.10. The stock has a market capitalization of $12.36 billion, a P/E ratio of 32.77, a PEG ratio of 1.57 and a beta of 0.98. The stock has a 50-day simple moving average of $79.75 and a 200 day simple moving average of $74.27.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.12. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The business had revenue of $712.24 million during the quarter, compared to analysts' expectations of $699.93 million. During the same quarter last year, the company posted $0.41 earnings per share. New York Times's quarterly revenue was up 12.0% on a year-over-year basis. Research analysts forecast that The New York Times Company will post 2.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NYT shares. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of New York Times in a report on Tuesday, April 21st. Argus upgraded New York Times to a "strong-buy" rating in a report on Thursday, February 19th. Barclays increased their target price on New York Times from $60.00 to $66.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $95.00 target price on shares of New York Times in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.67.

Insider Transactions at New York Times

In related news, Director David S. Perpich sold 9,000 shares of New York Times stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $77.06, for a total transaction of $693,540.00. Following the completion of the transaction, the director owned 28,469 shares in the company, valued at approximately $2,193,821.14. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Bardeen sold 4,121 shares of New York Times stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $77.85, for a total value of $320,819.85. Following the transaction, the executive vice president owned 14,560 shares of the company's stock, valued at $1,133,496. The trade was a 22.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.90% of the company's stock.

About New York Times

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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