Teacher Retirement System of Texas Cuts Holdings in The New York Times Company (NYSE:NYT)

Teacher Retirement System of Texas decreased its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 16.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,140 shares of the company's stock after selling 33,355 shares during the quarter. Teacher Retirement System of Texas owned 0.10% of New York Times worth $8,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in New York Times by 109.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,373 shares of the company's stock valued at $1,259,000 after acquiring an additional 13,248 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of New York Times in the first quarter valued at approximately $250,000. Centiva Capital LP increased its position in shares of New York Times by 58.6% in the fourth quarter. Centiva Capital LP now owns 36,031 shares of the company's stock valued at $1,875,000 after buying an additional 13,311 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of New York Times by 164.0% in the first quarter. State of Alaska Department of Revenue now owns 49,119 shares of the company's stock valued at $2,436,000 after buying an additional 30,515 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of New York Times in the fourth quarter valued at approximately $1,200,000. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Trading Down 1.2%

NYSE NYT traded down $0.70 on Monday, reaching $56.42. 1,687,564 shares of the company were exchanged, compared to its average volume of 1,407,067. The business's fifty day moving average price is $54.88 and its 200 day moving average price is $51.82. The stock has a market capitalization of $9.20 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week 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 earnings per share 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 company had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts forecast that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Wednesday, July 9th. New York Times's dividend payout ratio (DPR) is presently 39.13%.

Insider Activity

In related news, CAO R Anthony Benten sold 1,990 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.75, for a total value of $112,932.50. Following the sale, the chief accounting officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $224,720.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 8,490 shares of company stock valued at $479,728 in the last quarter. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Guggenheim boosted their price objective on 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, Citigroup reaffirmed a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.