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

Teacher Retirement System of Texas cut its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 16.5% during the 1st quarter, according to its most recent 13F filing with the Securities and 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 approximately 0.10% of New York Times worth $8,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NYT. Wealth Enhancement Advisory Services LLC lifted its stake in shares of New York Times by 109.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,373 shares of the company's stock valued at $1,259,000 after purchasing an additional 13,248 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of New York Times in the 1st quarter valued at about $250,000. Centiva Capital LP lifted its stake in shares of New York Times by 58.6% in the 4th quarter. Centiva Capital LP now owns 36,031 shares of the company's stock valued at $1,875,000 after purchasing an additional 13,311 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of New York Times by 164.0% in the 1st quarter. State of Alaska Department of Revenue now owns 49,119 shares of the company's stock valued at $2,436,000 after purchasing an additional 30,515 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of New York Times in the 4th quarter valued at about $1,200,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other New York Times news, EVP William Bardeen sold 2,500 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $56.83, for a total transaction of $142,075.00. Following the completion of the sale, the executive vice president directly owned 16,727 shares of the company's stock, valued at approximately $950,595.41. The trade was a 13.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $112,932.50. Following the sale, the chief accounting officer directly owned 39,685 shares of the company's stock, valued at $2,252,123.75. This represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,490 shares of company stock valued at $479,728. Corporate insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup reaffirmed a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Guggenheim boosted their target price 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, Wall Street Zen raised 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 given a buy rating to the stock. Based on data from MarketBeat.com, New York Times has an average rating of "Moderate Buy" and an average target price of $56.40.

New York Times Stock Performance

NYT traded up $0.58 during midday trading on Friday, reaching $57.12. 739,674 shares of the company were exchanged, compared to its average volume of 1,405,851. The company's fifty day moving average price is $54.88 and its 200 day moving average price is $51.83. The company has a market cap of $9.31 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. The New York Times Company has a one year low of $44.83 and a one year high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last issued 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. The firm had revenue of $635.91 million during the quarter, compared to analyst estimates of $634.99 million. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The company's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. As a group, sell-side analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Wednesday, July 9th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Wednesday, July 9th. New York Times's dividend payout ratio is currently 39.13%.

New York Times Company Profile

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.