South Dakota Investment Council Makes New Investment in The New York Times Company (NYSE:NYT)

South Dakota Investment Council acquired a new stake in shares of The New York Times Company (NYSE:NYT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 27,225 shares of the company's stock, valued at approximately $1,350,000.

A number of other institutional investors have also recently bought and sold shares of NYT. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in 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 acquiring an additional 394 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of New York Times in the 4th quarter valued at approximately $36,000. American National Bank & Trust bought a new stake in shares of New York Times in the 1st quarter valued at approximately $45,000. Bessemer Group Inc. grew its stake in shares of New York Times by 12.6% in the 4th 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 period. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of New York Times in the 1st quarter valued at approximately $99,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Wall Street Analysts Forecast Growth

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

New York Times Price Performance

NYSE:NYT traded down $0.66 on Wednesday, reaching $52.80. The stock had a trading volume of 863,441 shares, compared to its average volume of 1,424,909. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16. The firm's fifty day moving average is $55.48 and its two-hundred day moving average is $52.00. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 1.46 and a beta of 1.11.

New York Times (NYSE:NYT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (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 firm had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. During the same period in the previous year, the company earned $0.31 earnings per share. New York Times's revenue was up 7.1% compared to the same quarter last year. As a group, research analysts forecast that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Wednesday, July 9th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. New York Times's payout ratio is 39.13%.

Insider Buying and Selling at New York Times

In other New York Times news, 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 sale, the director owned 27,569 shares in the company, valued at $1,548,826.42. This represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William Bardeen sold 2,500 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.83, for a total value of $142,075.00. Following the transaction, the executive vice president owned 16,727 shares in the company, valued at approximately $950,595.41. This trade represents a 13.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,490 shares of company stock valued at $479,728. Company insiders own 1.90% of the company's stock.

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.