Voya Investment Management LLC Has $14.71 Million Stock Position in The New York Times Company $NYT

Key Points

• Voya Investment Management LLC significantly increased its stake in The New York Times Company by 128%, owning approximately $14.71 million worth of shares as of its latest SEC filing.
• Insider transactions were reported, with EVP Jacqueline M. Welch selling 5,500 shares and EVP William Bardeen selling 5,000 shares, reflecting notable decreases in their holdings.
• The New York Times announced better-than-expected quarterly earnings with a net margin of 11.92% and revenue of $685.90 million, boosting market optimism and analyst target prices for the stock.

Voya Investment Management LLC boosted its holdings in The New York Times Company (NYSE:NYT - Free Report) by 128.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 296,517 shares of the company's stock after buying an additional 166,472 shares during the period. Voya Investment Management LLC owned approximately 0.18% of New York Times worth $14,707,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Covestor Ltd grew its position in shares of New York Times by 7.9% in the first quarter. Covestor Ltd now owns 2,849 shares of the company's stock valued at $141,000 after purchasing an additional 208 shares in the last quarter. Valueworks LLC raised its position in shares of New York Times by 0.3% in the 1st quarter. Valueworks LLC now owns 88,939 shares of the company's stock worth $4,411,000 after acquiring an additional 278 shares in the last quarter. Snowden Capital Advisors LLC grew its stake in shares of New York Times by 2.1% in the fourth quarter. Snowden Capital Advisors LLC now owns 14,648 shares of the company's stock worth $762,000 after acquiring an additional 307 shares during the last quarter. State of Michigan Retirement System increased its position in shares of New York Times by 1.0% during the first quarter. State of Michigan Retirement System now owns 39,016 shares of the company's stock valued at $1,935,000 after acquiring an additional 400 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of New York Times by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 45,700 shares of the company's stock worth $2,267,000 after buying an additional 400 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the completion of the sale, the executive vice president directly owned 14,470 shares of the company's stock, valued at $868,778.80. This trade represents a 27.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 directly owned 11,243 shares of the company's stock, valued at $652,543.72. This represents a 30.78% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

New York Times Stock Up 0.6%

NYT opened at $59.27 on Tuesday. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24. The firm has a market capitalization of $9.65 billion, a P/E ratio of 30.55, a P/E/G ratio of 1.49 and a beta of 1.16. The firm's 50 day moving average is $56.94 and its 200-day moving average is $53.76.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $685.90 million during the quarter, compared to analyst estimates of $670.22 million. During the same period last year, the business earned $0.45 EPS. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Shareholders 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 annualized dividend and a yield of 1.2%. New York Times's payout ratio is 37.11%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NYT. Morgan Stanley boosted their target price on 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. Guggenheim raised their price objective on New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Evercore ISI boosted their target price 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. Barclays set a $52.00 price target on shares of New York Times and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Finally, Citigroup reaffirmed a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, New York Times currently has an average rating of "Moderate Buy" and an average target price of $60.33.

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.

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