Capstone Investment Advisors LLC Boosts Holdings in The New York Times Company (NYSE:NYT)

Capstone Investment Advisors LLC boosted its position in The New York Times Company (NYSE:NYT) by 420.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,856 shares of the company’s stock after purchasing an additional 91,184 shares during the period. Capstone Investment Advisors LLC owned about 0.07% of New York Times worth $4,878,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of NYT. Vanguard Group Inc. boosted its holdings in New York Times by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 15,809,453 shares of the company’s stock worth $774,505,000 after buying an additional 80,075 shares during the period. Franklin Resources Inc. raised its holdings in shares of New York Times by 15.7% in the 4th quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company’s stock valued at $146,844,000 after acquiring an additional 406,958 shares in the last quarter. Norges Bank purchased a new stake in New York Times in the fourth quarter valued at approximately $89,754,000. Charles Schwab Investment Management Inc. raised its position in New York Times by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,800,927 shares of the company’s stock valued at $88,227,000 after purchasing an additional 31,213 shares in the last quarter. Finally, LGT Group Foundation raised its holdings in shares of New York Times by 43.8% during the 4th quarter. LGT Group Foundation now owns 903,097 shares of the company’s stock valued at $43,827,000 after buying an additional 275,212 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other New York Times news, CAO R Anthony Benten sold 5,171 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total transaction of $253,275.58. Following the completion of the transaction, the chief accounting officer now owns 38,576 shares of the company’s stock, valued at $1,889,452.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Levien Meredith A. Kopit sold 12,548 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $47.72, for a total transaction of $598,790.56. Following the completion of the transaction, the chief executive officer now owns 120,072 shares of the company’s stock, valued at approximately $5,729,835.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO R Anthony Benten sold 5,171 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total value of $253,275.58. Following the completion of the sale, the chief accounting officer now directly owns 38,576 shares in the company, valued at $1,889,452.48. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Evercore ISI increased their price target on shares of New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Citigroup began coverage on shares of New York Times in a research note on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price target for the company. Finally, StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.71.

New York Times Stock Performance

Shares of New York Times stock traded down $0.03 during midday trading on Friday, reaching $52.27. 602,030 shares of the company’s stock traded hands, compared to its average volume of 877,399. The stock has a 50 day moving average of $49.28 and a 200-day moving average of $46.56. The New York Times Company has a 12 month low of $39.38 and a 12 month high of $52.58. The company has a market cap of $8.59 billion, a PE ratio of 34.85 and a beta of 1.06.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, May 8th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.20 by $0.11. New York Times had a net margin of 10.19% and a return on equity of 17.33%. The firm had revenue of $594.00 million during the quarter, compared to analysts’ expectations of $591.97 million. During the same period last year, the company posted $0.19 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities analysts anticipate that The New York Times Company will post 1.77 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, July 25th. Stockholders of record on Tuesday, July 9th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, July 9th. New York Times’s dividend payout ratio is currently 34.67%.

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.