Thematics Asset Management Acquires 5,439 Shares of The New York Times Company $NYT

Key Points

• Thematics Asset Management increased its holdings in The New York Times Company by 6.4%, acquiring 5,439 shares to own a total of 90,932 shares worth approximately $4.51 million.
• Significant stake increases were reported from other institutional investors, with Allianz Asset Management raising its holdings by 210.7% in the first quarter, now owning over 1.6 million shares.
• The company's quarterly earnings report showed earnings per share (EPS) of $0.58, exceeding estimates, and a 9.7% year-over-year revenue increase, signaling robust performance.

Thematics Asset Management lifted its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,932 shares of the company's stock after buying an additional 5,439 shares during the period. Thematics Asset Management owned about 0.06% of New York Times worth $4,510,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NYT. LPL Financial LLC boosted its holdings in New York Times by 11.7% during the fourth quarter. LPL Financial LLC now owns 8,164 shares of the company's stock worth $425,000 after purchasing an additional 858 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of New York Times during the 4th quarter worth approximately $1,544,000. Canada Pension Plan Investment Board bought a new position in shares of New York Times during the 4th quarter worth approximately $250,000. First Trust Advisors LP grew its holdings in shares of New York Times by 95.2% in the fourth quarter. First Trust Advisors LP now owns 196,571 shares of the company's stock valued at $10,232,000 after acquiring an additional 95,852 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of New York Times by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,496,614 shares of the company's stock valued at $129,954,000 after acquiring an additional 145,997 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

Insiders Place Their Bets

In related news, CAO R Anthony Benten sold 1,990 shares of New York Times stock in a transaction on Friday, May 30th. The shares were sold at an average price of $56.75, for a total value of $112,932.50. Following the transaction, the chief accounting officer owned 39,685 shares in the company, valued at $2,252,123.75. This trade represents a 4.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Perpich sold 4,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total transaction of $224,720.00. Following the sale, the director owned 27,569 shares of the company's stock, valued at approximately $1,548,826.42. The trade was a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,490 shares of company stock valued at $769,928 over the last quarter. 1.90% of the stock is owned by corporate insiders.

New York Times Price Performance

NYT stock traded down $0.09 during mid-day trading on Thursday, reaching $59.75. 1,270,040 shares of the company traded hands, compared to its average volume of 1,779,559. The company has a fifty day moving average price of $56.09 and a 200-day moving average price of $52.79. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24. The company has a market capitalization of $9.73 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.50 and a beta of 1.09.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The firm had revenue of $685.90 million for the quarter, compared to analysts' expectations of $670.22 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business's quarterly revenue was up 9.7% on a year-over-year basis. As a group, analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Wednesday, July 9th were given a $0.18 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. New York Times's payout ratio is presently 37.11%.

Wall Street Analyst Weigh In

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

New York Times 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.