The New York Times Company (NYSE:NYT) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in The New York Times Company by 129.7% during Q1, now owning 54,546 shares worth approximately $2.7 million.
• The New York Times reported a Q1 EPS of $0.41, surpassing expectations, with revenues of $635.91 million, reflecting a 7.1% year-over-year growth.
• The company announced a $0.18 quarterly dividend, resulting in an annualized yield of 1.38% and a payout ratio of 39.13%.

XTX Topco Ltd boosted its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 129.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,546 shares of the company's stock after buying an additional 30,801 shares during the period. XTX Topco Ltd's holdings in New York Times were worth $2,705,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of 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 buying an additional 394 shares in the last quarter. American National Bank & Trust purchased a new position in shares of New York Times during the 1st quarter worth $45,000. Bessemer Group Inc. increased its position 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 acquiring an additional 212 shares during the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in New York Times during the first quarter worth $99,000. Finally, Putney Financial Group LLC acquired a new position in New York Times in the 4th quarter valued at about $102,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Up 0.7%

NYT traded up $0.37 on Friday, hitting $52.26. 1,918,758 shares of the company traded hands, compared to its average volume of 1,724,551. The stock has a market capitalization of $8.52 billion, a PE ratio of 28.40, a PEG ratio of 1.41 and a beta of 1.11. The company has a 50 day moving average of $55.02 and a 200-day moving average of $52.03. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings data 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 net margin of 11.53% and a return on equity of 18.70%. The firm had revenue of $635.91 million for the quarter, compared to the consensus estimate of $634.99 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. On average, research analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Announces Dividend

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. The ex-dividend date of this dividend 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 is presently 39.13%.

Insider Activity at New York Times

In other New York Times news, CAO R Anthony Benten sold 1,990 shares of the business's 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 sale, the chief accounting officer directly owned 39,685 shares in the company, valued at $2,252,123.75. The trade was a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Bardeen sold 2,500 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the transaction, the executive vice president directly owned 16,727 shares in the company, 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. Over the last 90 days, insiders have sold 8,490 shares of company stock valued at $479,728. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Guggenheim upped their target price 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. Wall Street Zen raised New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Finally, Citigroup reissued a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.