American Century Companies Inc. Boosts Stock Position in The New York Times Company (NYSE:NYT)

American Century Companies Inc. raised its stake in The New York Times Company (NYSE:NYT - Free Report) by 107.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,944 shares of the company's stock after acquiring an additional 66,276 shares during the quarter. American Century Companies Inc. owned approximately 0.08% of New York Times worth $5,271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Compass Wealth Management LLC bought a new position in New York Times in the 4th quarter valued at approximately $30,000. DekaBank Deutsche Girozentrale acquired a new stake in New York Times during the 3rd quarter valued at approximately $37,000. Pinebridge Investments L.P. acquired a new stake in New York Times during the 2nd quarter valued at approximately $39,000. Belpointe Asset Management LLC increased its position in New York Times by 31.9% during the 1st quarter. Belpointe Asset Management LLC now owns 1,510 shares of the company's stock valued at $59,000 after purchasing an additional 365 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in New York Times during the 3rd quarter valued at approximately $63,000. Institutional investors own 95.37% of the company's stock.

Insider Activity at New York Times

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of New York Times stock in a transaction on Friday, February 16th. The shares were sold at an average price of $44.11, for a total value of $597,381.73. Following the sale, the chief executive officer now owns 90,759 shares in the company, valued at $4,003,379.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director David S. Perpich sold 3,014 shares of the company's stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total value of $132,706.42. Following the transaction, the director now owns 20,813 shares in the company, valued at approximately $916,396.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the company's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the transaction, the chief executive officer now owns 90,759 shares in the company, valued at approximately $4,003,379.49. The disclosure for this sale can be found here. Insiders have sold a total of 23,557 shares of company stock worth $1,029,968 over the last quarter. Corporate insiders own 2.00% of the company's stock.

New York Times Trading Down 1.9 %

Shares of NYT stock traded down $0.85 during trading hours on Thursday, reaching $43.22. The stock had a trading volume of 1,581,307 shares, compared to its average volume of 1,340,510. The stock's fifty day simple moving average is $44.98 and its 200 day simple moving average is $44.59. The New York Times Company has a 12 month low of $35.06 and a 12 month high of $49.87. The firm has a market capitalization of $7.09 billion, a PE ratio of 31.09 and a beta of 1.02.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.10. The business had revenue of $676.20 million for the quarter, compared to the consensus estimate of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. New York Times's quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm posted $0.65 earnings per share. As a group, equities research analysts anticipate that The New York Times Company will post 1.64 EPS for the current fiscal year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.20%. This is an increase from New York Times's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Monday, April 1st. New York Times's payout ratio is presently 31.65%.

Wall Street Analysts Forecast Growth

NYT has been the subject of several research reports. Citigroup initiated coverage on shares of New York Times in a research report on Tuesday, March 12th. They issued a "buy" rating and a $52.00 price target for the company. Argus raised shares of New York Times from a "hold" rating to a "buy" rating and set a $51.00 price target for the company in a research report on Monday, March 4th. Finally, StockNews.com raised shares of New York Times from a "hold" rating to a "buy" rating in a research report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $45.67.

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.