Retirement Systems of Alabama Sells 200,998 Shares of The New York Times Company (NYSE:NYT)

Retirement Systems of Alabama cut its position in The New York Times Company (NYSE:NYT - Free Report) by 50.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 198,603 shares of the company's stock after selling 200,998 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of New York Times worth $9,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock valued at $25,000 after buying an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of New York Times during the 4th quarter valued at about $36,000. American National Bank & Trust purchased a new stake in shares of New York Times during the 1st quarter valued at about $45,000. Smartleaf Asset Management LLC grew its stake in shares of New York Times by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock worth $60,000 after acquiring an additional 247 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

Analysts Set New Price Targets

NYT has been the topic of several research reports. Citigroup restated a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Finally, Guggenheim lifted their price objective on New York Times from $53.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $56.40.

Insider Transactions at New York Times

In related news, EVP William Bardeen sold 2,500 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $56.83, for a total transaction of $142,075.00. Following the completion of the transaction, the executive vice president now directly owns 16,727 shares in the company, valued at approximately $950,595.41. The trade was a 13.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO R Anthony Benten sold 1,990 shares of the firm's stock in a transaction that occurred on 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 now owns 39,685 shares in the company, valued at approximately $2,252,123.75. The trade was a 4.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,490 shares of company stock valued at $479,728 over the last quarter. 1.90% of the stock is currently owned by company insiders.

New York Times Stock Performance

Shares of New York Times stock traded up $0.50 on Wednesday, hitting $55.26. 1,157,736 shares of the company's stock were exchanged, compared to its average volume of 1,389,352. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16. The company has a 50-day simple moving average of $53.98 and a 200-day simple moving average of $51.80. The stock has a market capitalization of $9.01 billion, a PE ratio of 30.03, a PEG ratio of 1.90 and a beta of 1.13.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The company had revenue of $635.91 million for the quarter, compared to analysts' expectations of $634.99 million. During the same period last year, the firm earned $0.31 EPS. New York Times's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.

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.