The New York Times Company $NYT Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC raised its stake in shares of The New York Times Company (NYSE:NYT) by 49.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,404 shares of the company’s stock after acquiring an additional 12,669 shares during the quarter. Lazard Asset Management LLC’s holdings in New York Times were worth $3,216,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NYT. AQR Capital Management LLC increased its position in shares of New York Times by 35.3% in the 4th quarter. AQR Capital Management LLC now owns 6,241,489 shares of the company’s stock worth $433,284,000 after purchasing an additional 1,628,200 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of New York Times by 9.3% during the fourth quarter. Wellington Management Group LLP now owns 5,211,824 shares of the company’s stock worth $361,805,000 after purchasing an additional 441,851 shares during the last quarter. Berkshire Hathaway Inc acquired a new position in New York Times in the fourth quarter worth about $351,664,000. State Street Corp grew its stake in New York Times by 2.4% in the fourth quarter. State Street Corp now owns 5,027,198 shares of the company’s stock worth $348,988,000 after purchasing an additional 116,012 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in New York Times by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,922,565 shares of the company’s stock worth $272,347,000 after purchasing an additional 50,389 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research upgraded New York Times from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Guggenheim boosted their price target on New York Times from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Bank of America dropped their price target on New York Times from $87.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 24th. Finally, Morgan Stanley set a $90.00 price target on New York Times in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.22.

New York Times Trading Down 1.2%

Shares of NYSE:NYT opened at $74.91 on Friday. The firm’s 50 day moving average is $73.86 and its two-hundred day moving average is $76.21. The New York Times Company has a 52 week low of $51.03 and a 52 week high of $87.10. The firm has a market capitalization of $12.12 billion, a P/E ratio of 32.15, a PEG ratio of 1.55 and a beta of 0.96.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.12. The company had revenue of $712.24 million for the quarter, compared to analysts’ expectations of $699.93 million. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. Analysts predict that The New York Times Company will post 2.93 EPS for the current year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Wednesday, July 8th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.92 annualized dividend and a yield of 1.2%. New York Times’s payout ratio is presently 39.48%.

Key Stories Impacting New York Times

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: NYT is publishing extensive coverage of high-interest events, including the expanding Iran conflict, Russia’s attacks on Ukraine, migration into Spain’s Ceuta territory, U.S. politics and artificial-intelligence risks. Such breaking-news and explanatory coverage can support traffic, subscriptions and engagement, although the articles do not disclose a measurable financial impact. Iran War Live Updates
• Neutral Sentiment: The company’s broad mix of politics, international affairs, science, culture and lifestyle journalism reinforces the value of its subscription bundle. However, the supplied articles contain no new subscriber, advertising or guidance figures, limiting their immediate importance for valuation.
• Neutral Sentiment: Coverage of rising artificial-intelligence spending and an possible venture-capital bubble highlights both the opportunity and uncertainty facing digital media companies. AI could improve products and efficiency, but it may also intensify competition for audience attention and increase technology costs. In Silicon Valley, Some Say an A.I. Bubble Would Be Just Fine
• Negative Sentiment: The report that the economy is slowing is a potential concern for advertising demand, even though NYT’s subscription-led model may reduce its exposure relative to traditional broadcasters and newspapers. The Economy Slows
• Negative Sentiment: ABC’s formal dispute with the F.C.C. over television-license reviews underscores heightened regulatory and political pressure on U.S. media companies. The issue does not directly involve NYT, but it may contribute to a more cautious media-sector trading environment. ABC Formally Rebukes F.C.C. for Review of TV Licenses

Insider Buying and Selling at New York Times

In other news, EVP William Bardeen sold 4,121 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $77.85, for a total transaction of $320,819.85. Following the transaction, the executive vice president directly owned 14,560 shares of the company’s stock, valued at approximately $1,133,496. This trade represents a 22.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David S. Perpich sold 9,000 shares of New York Times stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $77.06, for a total transaction of $693,540.00. Following the sale, the director owned 28,469 shares in the company, valued at approximately $2,193,821.14. This represents a 24.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,121 shares of company stock valued at $1,310,920 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

New York Times Profile

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.