State Street Corp boosted its position in shares of The New York Times Co. (NYSE:NYT) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,254,562 shares of the company’s stock after buying an additional 120,483 shares during the period. State Street Corp owned approximately 2.66% of The New York Times worth $53,008,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in NYT. BlackRock Inc. increased its stake in The New York Times by 4.4% in the first quarter. BlackRock Inc. now owns 49,149 shares of the company’s stock worth $612,000 after buying an additional 2,069 shares during the last quarter. BlackRock Group LTD increased its stake in The New York Times by 23.5% in the first quarter. BlackRock Group LTD now owns 85,295 shares of the company’s stock worth $1,062,000 after buying an additional 16,236 shares during the last quarter. Liberty Mutual Group Asset Management Inc. increased its stake in The New York Times by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 81,674 shares of the company’s stock worth $1,096,000 after buying an additional 27,726 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in The New York Times by 10.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 131,990 shares of the company’s stock worth $1,771,000 after buying an additional 12,411 shares during the last quarter. Finally, Raymond James & Associates increased its stake in The New York Times by 44.0% in the fourth quarter. Raymond James & Associates now owns 133,300 shares of the company’s stock worth $1,789,000 after buying an additional 40,753 shares during the last quarter.
Shares of The New York Times Co. (NYSE:NYT) traded down 1.31% during mid-day trading on Wednesday, hitting $12.79. The company had a trading volume of 898,324 shares. The company has a market capitalization of $2.06 billion and a PE ratio of 30.31. The New York Times Co. has a one year low of $11.45 and a one year high of $14.27. The company’s 50-day moving average is $12.24 and its 200 day moving average is $12.46.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Wednesday, July 13th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Monday, July 11th.
A number of research firms have recently weighed in on NYT. Zacks Investment Research downgraded The New York Times from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Argus reiterated a “hold” rating on shares of The New York Times in a research report on Monday, May 16th. Finally, TheStreet downgraded The New York Times from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The New York Times presently has a consensus rating of “Hold” and a consensus target price of $13.80.
In other The New York Times news, CFO James M. Follo sold 54,898 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $12.30, for a total value of $675,245.40. Following the completion of the sale, the chief financial officer now directly owns 89,882 shares of the company’s stock, valued at $1,105,548.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP R Anthony Benten sold 14,464 shares of the firm’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $12.06, for a total value of $174,435.84. Following the completion of the sale, the senior vice president now directly owns 36,929 shares of the company’s stock, valued at $445,363.74. The disclosure for this sale can be found here.
The New York Times Company is a media organization focused on creating, collecting and distributing news and information. The Company includes newspapers, digital businesses and investments. Its businesses include newspapers, such as The New York Times; the International New York Times (INYT), the international edition of The Times; Websites, including NYTimes.com and international.nytimes.com; mobile applications, including The Times’s news applications, as well as interest-specific applications, such as NYT Cooking, Crossword and others, and related businesses, such as The Times news services division, digital archive distribution, NYT Live, and other products and services under The Times brand.
