New York State Common Retirement Fund Sells 36,000 Shares of The New York Times Company (NYSE:NYT)

New York State Common Retirement Fund lowered its stake in shares of The New York Times Company (NYSE:NYT) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 714,939 shares of the company’s stock after selling 36,000 shares during the quarter. New York State Common Retirement Fund’s holdings in The New York Times were worth $36,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. IFP Advisors Inc boosted its position in The New York Times by 8.7% during the first quarter. IFP Advisors Inc now owns 3,342 shares of the company’s stock valued at $169,000 after purchasing an additional 268 shares in the last quarter. Arizona State Retirement System boosted its holdings in The New York Times by 0.7% in the first quarter. Arizona State Retirement System now owns 41,182 shares of the company’s stock worth $2,085,000 after acquiring an additional 274 shares in the last quarter. US Bancorp DE boosted its holdings in The New York Times by 4.3% in the first quarter. US Bancorp DE now owns 6,694 shares of the company’s stock worth $339,000 after acquiring an additional 277 shares in the last quarter. 6 Meridian boosted its holdings in The New York Times by 7.4% in the first quarter. 6 Meridian now owns 4,185 shares of the company’s stock worth $212,000 after acquiring an additional 287 shares in the last quarter. Finally, FDx Advisors Inc. boosted its holdings in The New York Times by 3.4% in the first quarter. FDx Advisors Inc. now owns 8,745 shares of the company’s stock worth $443,000 after acquiring an additional 291 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors.

The New York Times stock opened at $41.85 on Friday. The New York Times Company has a 52 week low of $37.21 and a 52 week high of $58.73. The firm has a market capitalization of $7.02 billion, a P/E ratio of 65.39 and a beta of 0.80. The business’s 50-day moving average price is $45.13.

The New York Times (NYSE:NYT) last released its earnings results on Wednesday, May 5th. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.11. The New York Times had a return on equity of 13.84% and a net margin of 5.98%. The firm had revenue of $473.00 million during the quarter, compared to the consensus estimate of $462.27 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that The New York Times Company will post 1.15 earnings per share for the current fiscal year.

Separately, Zacks Investment Research raised The New York Times from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, May 10th. Five research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $53.00.

The New York Times Company Profile

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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Institutional Ownership by Quarter for The New York Times (NYSE:NYT)

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