New York State Common Retirement Fund Cuts Stake in The New York Times Company (NYSE:NYT)

New York State Common Retirement Fund decreased its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 4.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 458,434 shares of the company's stock after selling 19,010 shares during the period. New York State Common Retirement Fund owned about 0.28% of New York Times worth $22,459,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NYT. Exchange Traded Concepts LLC purchased a new position in shares of New York Times during the 3rd quarter worth approximately $613,000. Oak Thistle LLC purchased a new stake in shares of New York Times in the 3rd quarter worth approximately $816,000. Robeco Institutional Asset Management B.V. grew its stake in shares of New York Times by 127.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 41,450 shares of the company's stock worth $1,708,000 after buying an additional 23,250 shares during the last quarter. Xponance Inc. grew its stake in shares of New York Times by 13.0% in the 3rd quarter. Xponance Inc. now owns 22,468 shares of the company's stock worth $926,000 after buying an additional 2,586 shares during the last quarter. Finally, Joel Isaacson & Co. LLC purchased a new stake in shares of New York Times in the 3rd quarter worth approximately $245,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

New York Times Trading Down 0.2 %

NYT traded down $0.08 during trading on Friday, hitting $43.17. 774,888 shares of the company's stock traded hands, compared to its average volume of 1,002,918. The company's 50 day simple moving average is $43.26 and its two-hundred day simple moving average is $44.74. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 31.05 and a beta of 1.01. The New York Times Company has a 12-month low of $35.06 and a 12-month high of $49.87.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.10. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The company had revenue of $676.20 million for the quarter, compared to analysts' expectations of $680.02 million. During the same period last year, the firm earned $0.65 EPS. New York Times's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts expect that The New York Times Company will post 1.64 EPS for the current year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were issued a $0.13 dividend. This is a boost from New York Times's previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Monday, April 1st. New York Times's dividend payout ratio (DPR) is currently 37.41%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, EVP Diane Brayton sold 7,000 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total value of $299,880.00. Following the transaction, the executive vice president now directly owns 39,312 shares of the company's stock, valued at approximately $1,684,126.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other New York Times news, EVP Diane Brayton sold 7,000 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the sale, the executive vice president now directly owns 39,312 shares of the company's stock, valued at $1,684,126.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the firm's stock in a transaction dated 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 directly owns 90,759 shares in the company, valued at $4,003,379.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,557 shares of company stock valued at $1,029,968. 2.00% of the stock is owned by company insiders.

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.