The New York Times Company $NYT Stock Holdings Increased by Retirement Systems of Alabama

Retirement Systems of Alabama grew its stake in shares of The New York Times Company (NYSE:NYT) by 14.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,315 shares of the company’s stock after buying an additional 23,710 shares during the period. Retirement Systems of Alabama’s holdings in New York Times were worth $12,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in shares of New York Times by 34.4% in the first quarter. Bessemer Group Inc. now owns 687 shares of the company’s stock worth $58,000 after purchasing an additional 176 shares during the period. Kaufman Rossin Wealth LLC raised its holdings in New York Times by 6.9% during the third quarter. Kaufman Rossin Wealth LLC now owns 3,389 shares of the company’s stock valued at $216,000 after acquiring an additional 219 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of New York Times by 1.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,165 shares of the company’s stock valued at $1,201,000 after acquiring an additional 242 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in shares of New York Times by 4.1% in the first quarter. Kestra Advisory Services LLC now owns 6,635 shares of the company’s stock worth $556,000 after acquiring an additional 263 shares during the period. Finally, Waverly Advisors LLC boosted its stake in shares of New York Times by 3.6% in the second quarter. Waverly Advisors LLC now owns 7,608 shares of the company’s stock worth $532,000 after acquiring an additional 267 shares during the period. Institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NYT shares. Weiss Ratings raised shares of New York Times from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Zacks Research downgraded shares of New York Times from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Barclays boosted their target price on New York Times from $63.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 5th. Guggenheim raised New York Times from a “neutral” rating to a “buy” rating and increased their price target for the company from $70.00 to $82.00 in a research note on Tuesday, September 15th. Finally, New Street Research set a $82.00 price objective on New York Times in a research note on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $82.80.

New York Times Stock Down 1.6%

Shares of NYT opened at $71.53 on Friday. The business has a fifty day moving average of $67.65 and a 200 day moving average of $73.26. The company has a market cap of $11.54 billion, a PE ratio of 25.33, a P/E/G ratio of 1.80 and a beta of 0.89. The New York Times Company has a 52-week low of $58.87 and a 52-week high of $87.10.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, November 4th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. New York Times had a net margin of 13.41% and a return on equity of 23.06%. The firm had revenue of $768.54 million during the quarter, compared to analyst estimates of $767.21 million. During the same quarter last year, the business earned $0.59 EPS. The business’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts anticipate that The New York Times Company will post 2.95 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Wednesday, October 7th were paid a $0.23 dividend. The ex-dividend date was Wednesday, October 7th. This represents a $0.92 dividend on an annualized basis and a yield of 1.3%. New York Times’s dividend payout ratio (DPR) is presently 36.80%.

Key Headlines Impacting New York Times

Investors following NYT have been watching these headlines:

• Positive Sentiment: The company’s recent quarterly results beat consensus on earnings and revenue, with revenue up 9.7% year over year. Its earnings-call coverage also highlighted broad growth, which may support investor confidence. New York Times Earnings Call Signals Broad Growth
• Neutral Sentiment: New York Times journalists invited readers to ask about the newsroom’s use of artificial intelligence. The item signals attention to the topic but does not describe a financial or operational change likely to move the stock. What Do You Want to Know About New York Times Journalism and A.I.

New York Times Profile

The New York Times Company is a media organization best known for publishing The New York Times, a newspaper founded in 1851. Based in New York City, the company produces journalism on U.S. and international news, politics, business, culture, science and other subjects. Its offerings include print and digital news, games, cooking content, product reviews through Wirecutter, and sports journalism through The Athletic. The company serves readers in the United States and around the world through its digital platforms and print publications.