American Century Companies Inc. Boosts Stock Position in The New York Times Company $NYT

Key Points

• American Century Companies Inc. increased its stake in The New York Times Company by **15.7%**, acquiring an additional 17,772 shares, bringing its total to 131,040 shares valued at approximately **$6.5 million**.
• Institutional investors and hedge funds collectively own **95.37%** of The New York Times' stock, indicating strong institutional interest in the company.
• The New York Times recently reported earnings of **$0.58 per share**, surpassing analysts' estimates of **$0.50**, with a revenue increase of **9.7%** year-over-year.

American Century Companies Inc. boosted its position in The New York Times Company (NYSE:NYT - Free Report) by 15.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,040 shares of the company's stock after buying an additional 17,772 shares during the quarter. American Century Companies Inc. owned approximately 0.08% of New York Times worth $6,500,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of New York Times during the 4th quarter worth approximately $1,544,000. Price T Rowe Associates Inc. MD boosted its stake in New York Times by 7.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 111,614 shares of the company's stock valued at $5,810,000 after purchasing an additional 8,111 shares during the period. Integrated Wealth Concepts LLC boosted its stake in New York Times by 9.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 5,099 shares of the company's stock valued at $265,000 after purchasing an additional 421 shares during the period. Boothbay Fund Management LLC acquired a new position in New York Times in the 4th quarter valued at $384,000. Finally, Northern Trust Corp raised its holdings in New York Times by 22.6% in the 4th quarter. Northern Trust Corp now owns 1,439,621 shares of the company's stock valued at $74,932,000 after acquiring an additional 265,138 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David S. Perpich sold 4,000 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total transaction of $224,720.00. Following the transaction, the director directly owned 27,569 shares in the company, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Bardeen sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total transaction of $290,200.00. Following the completion of the transaction, the executive vice president owned 11,243 shares in the company, valued at $652,543.72. This represents a 30.78% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

New York Times Stock Performance

NYSE:NYT traded up $0.13 during trading hours on Friday, reaching $59.87. The stock had a trading volume of 1,582,849 shares, compared to its average volume of 2,167,042. The stock has a 50 day simple moving average of $56.31 and a 200 day simple moving average of $52.97. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $62.24. The stock has a market cap of $9.75 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm had revenue of $685.90 million during the quarter, compared to analyst estimates of $670.22 million. During the same period last year, the company earned $0.45 earnings per share. The business's revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. New York Times's dividend payout ratio is 37.11%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NYT shares. Barclays set a $52.00 price target on New York Times and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Guggenheim upped their target price on New York Times from $55.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley upped their price target on New York Times from $54.00 to $59.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Citigroup reiterated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Finally, Evercore ISI raised their price objective on shares of New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.33.

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.