Allianz Asset Management GmbH Has $79.83 Million Holdings in The New York Times Company (NYSE:NYT)

Allianz Asset Management GmbH lifted its holdings in shares of The New York Times Company (NYSE:NYT - Free Report) by 210.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,609,513 shares of the company's stock after acquiring an additional 1,091,430 shares during the period. Allianz Asset Management GmbH owned approximately 0.99% of New York Times worth $79,832,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of New York Times by 511.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock worth $25,000 after purchasing an additional 394 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in New York Times in the 4th quarter valued at about $36,000. American National Bank & Trust acquired a new stake in New York Times in the 1st quarter valued at about $45,000. Bessemer Group Inc. increased its position in 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 acquiring an additional 212 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in New York Times in the 1st quarter valued at about $99,000. 95.37% of the stock is owned by institutional investors.

New York Times Trading Down 0.5%

Shares of NYSE:NYT traded down $0.29 during trading on Friday, hitting $52.57. 277,195 shares of the company's stock were exchanged, compared to its average volume of 1,712,843. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $58.16. The firm has a 50-day moving average price of $55.34 and a two-hundred day moving average price of $52.02. The firm has a market cap of $8.57 billion, a P/E ratio of 28.57, a PEG ratio of 1.44 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. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The business had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. During the same quarter last year, the firm earned $0.31 EPS. New York Times's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Wednesday, July 9th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.37%. The ex-dividend date was Wednesday, July 9th. New York Times's payout ratio is 39.13%.

Insider Buying and Selling

In other New York Times news, Director David S. Perpich sold 4,000 shares of New York Times stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total value of $224,720.00. Following the transaction, the director 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO R Anthony Benten sold 1,990 shares of New York Times stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.75, for a total transaction of $112,932.50. Following the completion of the transaction, the chief accounting officer directly owned 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 in the last 90 days. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Citigroup restated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Guggenheim raised their price objective 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. Finally, Wall Street Zen upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, New York Times presently has an average rating of "Moderate Buy" and an average target price of $56.40.

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.