Pacer Advisors Inc. Purchases 16,046 Shares of The New York Times Company $NYT

Key Points

• Pacer Advisors Inc. increased its stake in The New York Times Company by 58.8% in the fourth quarter, buying 16,046 additional shares and bringing its total holdings to 43,351 shares worth about $3.0 million.
• The New York Times reported strong quarterly results, with EPS of $0.61 beating estimates of $0.49 and revenue of $712.24 million topping expectations; revenue also rose 12% year over year.
• The company also announced a quarterly dividend of $0.23 per share, payable July 23, which works out to an annualized yield of about 1.3%.

Pacer Advisors Inc. lifted its position in The New York Times Company (NYSE:NYT - Free Report) by 58.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,351 shares of the company's stock after purchasing an additional 16,046 shares during the period. Pacer Advisors Inc.'s holdings in New York Times were worth $3,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Kera Capital Partners Inc. bought a new stake in New York Times during the fourth quarter valued at about $262,000. Compound Planning Inc. boosted its stake in shares of New York Times by 20.5% in the fourth quarter. Compound Planning Inc. now owns 4,688 shares of the company's stock worth $325,000 after acquiring an additional 798 shares during the period. Corient Private Wealth LLC boosted its stake in shares of New York Times by 10.5% in the fourth quarter. Corient Private Wealth LLC now owns 24,973 shares of the company's stock worth $1,734,000 after acquiring an additional 2,376 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of New York Times by 39.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 60,506 shares of the company's stock worth $4,200,000 after purchasing an additional 17,232 shares in the last quarter. Finally, Caitlin John LLC bought a new stake in New York Times during the 4th quarter valued at approximately $487,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

New York Times Stock Up 1.5%

New York Times stock opened at $73.16 on Wednesday. The New York Times Company has a 52-week low of $51.03 and a 52-week high of $87.10. The firm's fifty day moving average is $76.64 and its 200 day moving average is $75.38. The company has a market cap of $11.84 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.49 and a beta of 0.95.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.12. New York Times had a net margin of 13.18% and a return on equity of 22.02%. The firm had revenue of $712.24 million during the quarter, compared to the consensus estimate of $699.93 million. During the same quarter last year, the firm earned $0.41 EPS. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities research analysts anticipate that The New York Times Company will post 2.93 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Wednesday, July 8th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.92 annualized dividend and a dividend yield of 1.3%. New York Times's payout ratio is currently 39.48%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NYT shares. Weiss Ratings reissued a "buy (b)" rating on shares of New York Times in a report on Tuesday, April 21st. Morgan Stanley set a $90.00 price objective on shares of New York Times in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $95.00 price objective on shares of New York Times in a research report on Thursday, May 7th. Barclays boosted their target price on shares of 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, Bank of America started coverage on shares of New York Times in a research report on Wednesday, April 22nd. They set a "neutral" rating and a $84.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.67.

Insider Activity

In other New York Times news, EVP Jacqueline M. Welch sold 4,000 shares of New York Times stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $74.14, for a total transaction of $296,560.00. Following the completion of the transaction, the executive vice president directly owned 23,873 shares of the company's stock, valued at $1,769,944.22. The trade was a 14.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Bardeen sold 4,121 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $77.85, for a total transaction of $320,819.85. Following the completion of the sale, the executive vice president directly owned 14,560 shares in the company, valued at approximately $1,133,496. This represents a 22.06% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 17,121 shares of company stock valued at $1,310,920. 1.90% of the stock is currently owned by insiders.

More New York Times News

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

• Positive Sentiment: Berkshire Hathaway reportedly nearly tripled its stake in New York Times Company (NYT), a headline that can signal confidence from a major long-term investor and support sentiment around the stock. Article Title
• Positive Sentiment: Analyst commentary highlighted NYT as a low-beta defensive stock after the Fed left interest rates unchanged, which may attract investors looking for stability in a volatile market. Article Title
• Neutral Sentiment: Recent New York Times coverage has been dominated by sports, politics, and world news, including multiple The Athletic World Cup and NBA draft stories, which are important for readership but do not appear to materially change the company’s fundamentals today.
• Neutral Sentiment: A Reuters-style market note cited a Meta prediction-markets report from The New York Times, showing the company’s journalism continues to drive attention, though the story was more relevant to Meta than to NYT’s own earnings outlook.

New York Times Profile

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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