The New York Times Company (NYSE:NYT) Shares Bought by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC increased its investment in The New York Times Company by 81.1%, owning 39,217 shares worth approximately $1.95 million, making NYT its 17th largest holding.
• During the first quarter, various hedge funds notably increased their positions in New York Times, with Wealth Enhancement Advisory Services boosting their stake by 109.3% and State of Alaska Department of Revenue by 164.0%.
• The New York Times recently announced a quarterly dividend of $0.18 per share, representing a 1.4% yield and a payout ratio of 39.13% as of the last reporting period.

Blueshift Asset Management LLC lifted its holdings in shares of The New York Times Company (NYSE:NYT - Free Report) by 81.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,217 shares of the company's stock after buying an additional 17,568 shares during the period. New York Times accounts for approximately 0.8% of Blueshift Asset Management LLC's holdings, making the stock its 17th biggest position. Blueshift Asset Management LLC's holdings in New York Times were worth $1,945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wealthquest Corp acquired a new position in New York Times in the first quarter valued at approximately $466,000. Bayforest Capital Ltd lifted its holdings in shares of New York Times by 432.7% in the 1st quarter. Bayforest Capital Ltd now owns 9,903 shares of the company's stock worth $491,000 after purchasing an additional 8,044 shares during the last quarter. XTX Topco Ltd boosted its position in New York Times by 129.7% during the 1st quarter. XTX Topco Ltd now owns 54,546 shares of the company's stock valued at $2,705,000 after purchasing an additional 30,801 shares during the period. GSA Capital Partners LLP acquired a new position in New York Times during the 1st quarter valued at approximately $1,260,000. Finally, Meeder Asset Management Inc. bought a new position in New York Times during the 1st quarter worth $115,000. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Stock Up 0.7%

NYT stock traded up $0.37 during trading on Friday, reaching $52.26. 1,918,758 shares of the company's stock were exchanged, compared to its average volume of 1,698,410. 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 market cap of $8.52 billion, a PE ratio of 28.40, a P/E/G ratio of 1.42 and a beta of 1.09. The company's fifty day moving average price is $55.02 and its 200-day moving average price is $52.03.

New York Times (NYSE:NYT - Get Free Report) last posted 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 business had revenue of $635.91 million during 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 company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, sell-side analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were issued a $0.18 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. New York Times's dividend payout ratio (DPR) is 39.13%.

Analyst Upgrades and Downgrades

NYT has been the topic of a number of recent research reports. Guggenheim raised their target price on New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a research note on Monday, June 2nd. Citigroup reiterated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $56.40.

Insider Activity

In related news, CAO R Anthony Benten sold 1,990 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $56.75, for a total transaction of $112,932.50. Following the sale, the chief accounting officer owned 39,685 shares of the company's stock, valued at $2,252,123.75. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Bardeen sold 2,500 shares of the company'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 value of $142,075.00. Following the completion of the sale, the executive vice president owned 16,727 shares of the company's stock, valued at $950,595.41. This trade represents a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,490 shares of company stock worth $479,728 over the last three months. Corporate insiders own 1.90% of the company's stock.

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.