South Dakota Investment Council Invests $1.35 Million in The New York Times Company (NYSE:NYT)

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in New York Times by 511.7% in 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. acquired a new position in New York Times in the fourth quarter valued at approximately $36,000. American National Bank & Trust acquired a new position in New York Times in the first quarter valued at approximately $45,000. Bessemer Group Inc. raised its holdings in New York Times by 12.6% in the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock worth $99,000 after purchasing an additional 212 shares during the period. Finally, Putney Financial Group LLC acquired a new stake in New York Times in the fourth quarter worth $102,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NYT. Citigroup reaffirmed a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Guggenheim lifted their price objective on shares of New York Times from $53.00 to $55.00 and gave the stock a "neutral" rating in a research note on Monday, June 2nd. Finally, Wall Street Zen raised shares of New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $56.40.

Insiders Place Their Bets

In other New York Times news, Director David S. Perpich sold 4,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Bardeen sold 2,500 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $56.83, for a total transaction of $142,075.00. Following the sale, 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. Insiders sold 8,490 shares of company stock worth $479,728 over the last quarter. 1.90% of the stock is currently owned by company insiders.

New York Times Stock Performance

Shares of NYSE:NYT traded up $0.24 during trading on Tuesday, reaching $53.51. The stock had a trading volume of 1,519,528 shares, compared to its average volume of 1,429,641. The firm's fifty day moving average is $55.48 and its 200 day moving average is $52.00. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $58.16. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 29.08, 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 quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. The firm had revenue of $635.91 million for the quarter, compared to the consensus estimate of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The business's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. On average, 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 given a dividend of $0.18 per share. The ex-dividend date is Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.35%. New York Times's dividend payout ratio is presently 39.13%.

About New York Times

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.