Algert Global LLC Raises Stock Holdings in The New York Times Company (NYSE:NYT)

Algert Global LLC lifted its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 17.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,623 shares of the company's stock after purchasing an additional 15,655 shares during the period. Algert Global LLC owned 0.06% of New York Times worth $5,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NYT. Janus Henderson Group PLC boosted its stake in New York Times by 72.9% in the 1st quarter. Janus Henderson Group PLC now owns 122,820 shares of the company's stock worth $5,308,000 after purchasing an additional 51,801 shares during the period. Cullinan Associates Inc. boosted its stake in New York Times by 10.3% in the 1st quarter. Cullinan Associates Inc. now owns 195,593 shares of the company's stock worth $8,454,000 after purchasing an additional 18,337 shares during the period. Allianz Asset Management GmbH boosted its stake in New York Times by 3,368.3% in the 4th quarter. Allianz Asset Management GmbH now owns 181,981 shares of the company's stock worth $8,915,000 after purchasing an additional 176,734 shares during the period. Entropy Technologies LP bought a new position in New York Times in the 1st quarter worth about $473,000. Finally, Comerica Bank boosted its stake in New York Times by 15.6% in the 1st quarter. Comerica Bank now owns 83,282 shares of the company's stock worth $3,599,000 after purchasing an additional 11,234 shares during the period. 95.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

NYT has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on New York Times from $56.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, August 8th. Barclays raised their target price on shares of New York Times from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.67.

Insider Buying and Selling

In other New York Times news, CFO William Bardeen sold 2,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the sale, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the transaction, the chief executive officer now owns 101,772 shares in the company, valued at $5,487,546.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO William Bardeen sold 2,000 shares of the company's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the transaction, the chief financial officer now owns 10,315 shares of the company's stock, valued at approximately $562,786.40. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

New York Times Price Performance

NYSE NYT traded up $0.35 during trading on Monday, hitting $55.67. 763,430 shares of the company's stock traded hands, compared to its average volume of 1,128,749. The New York Times Company has a 12-month low of $39.73 and a 12-month high of $56.49. The stock has a fifty day moving average of $54.15 and a two-hundred day moving average of $49.86. The firm has a market cap of $9.15 billion, a P/E ratio of 36.88 and a beta of 1.03.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.04. The firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $624.82 million. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, analysts expect that The New York Times Company will post 1.9 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.93%. New York Times's dividend payout ratio is currently 34.67%.

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.