The New York Times Company (NYSE:NYT) Shares Bought by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. increased its holdings in The New York Times Company by 10.7%, owning a total of 169,666 shares worth approximately $8.4 million after acquiring an additional 16,384 shares.
• The New York Times reported a quarterly earnings per share (EPS) of $0.58, surpassing estimates of $0.50, with a revenue increase of 9.7% year-over-year.
• The company announced a quarterly dividend of $0.18 per share, representing a 1.3% dividend yield and a payout ratio of 37.11%.

LGT Fund Management Co Ltd. grew its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 10.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,666 shares of the company's stock after acquiring an additional 16,384 shares during the quarter. LGT Fund Management Co Ltd. owned 0.10% of New York Times worth $8,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in New York Times by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 15,987,404 shares of the company's stock worth $792,975,000 after purchasing an additional 187,056 shares in the last quarter. Darsana Capital Partners LP grew its holdings in 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 worth $299,288,000 after acquiring an additional 750,000 shares during the period. Baillie Gifford & Co. lifted its position in shares of New York Times by 19.0% in the first quarter. Baillie Gifford & Co. now owns 3,018,477 shares of the company's stock valued at $149,716,000 after acquiring an additional 481,682 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in New York Times by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,496,614 shares of the company's stock worth $129,954,000 after buying an additional 145,997 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of New York Times by 17.7% in the fourth quarter. Invesco Ltd. now owns 2,145,748 shares of the company's stock valued at $111,686,000 after buying an additional 322,141 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Trading Down 0.0%

NYSE NYT traded down $0.02 on Friday, hitting $60.11. 1,649,764 shares of the company were exchanged, compared to its average volume of 2,425,518. The stock has a fifty day moving average of $55.38 and a 200-day moving average of $52.40. The New York Times Company has a 12 month low of $44.83 and a 12 month high of $62.24. The company has a market cap of $9.80 billion, a PE ratio of 30.98, a PEG ratio of 1.52 and a beta of 1.09.

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

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were issued a $0.18 dividend. The ex-dividend date 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 is presently 37.11%.

Insider Transactions at New York Times

In other news, CAO R Anthony Benten sold 1,990 shares of the business's 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. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David S. Perpich sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total value of $224,720.00. Following the transaction, the director directly owned 27,569 shares of the company's stock, valued at approximately $1,548,826.42. The trade was a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,490 shares of company stock worth $769,928. Insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NYT. Barclays set a $52.00 target price on New York Times and gave the company an "equal weight" rating in a report on Thursday, August 7th. Citigroup restated a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Morgan Stanley raised their target price on shares of New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Evercore ISI lifted their price target on shares of New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Guggenheim lifted their target price on shares of New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, New York Times has an average rating of "Moderate Buy" and an average price target of $60.33.

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.